Grimes & Company Inc. Has $233,000 Stake in Ralph Lauren Corporation $RL

Grimes & Company Inc. decreased its position in Ralph Lauren Corporation (NYSE:RL) by 11.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 850 shares of the textile maker’s stock after selling 114 shares during the period. Grimes & Company Inc.’s holdings in Ralph Lauren were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OMNI 360 Wealth Inc. acquired a new position in shares of Ralph Lauren in the first quarter valued at approximately $248,000. Crossmark Global Holdings Inc. grew its position in shares of Ralph Lauren by 13.5% in the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker’s stock valued at $4,987,000 after purchasing an additional 2,684 shares during the last quarter. Truist Financial Corp grew its position in shares of Ralph Lauren by 7.8% in the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker’s stock valued at $66,407,000 after purchasing an additional 21,681 shares during the last quarter. BNP Paribas Financial Markets grew its position in Ralph Lauren by 31.5% during the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock worth $37,778,000 after buying an additional 40,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Ralph Lauren by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker’s stock worth $52,421,000 after buying an additional 17,732 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RL. Cfra Research raised Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 11th. Jefferies Financial Group increased their price target on Ralph Lauren from $325.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Wells Fargo & Company increased their price target on Ralph Lauren from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. increased their price target on Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Barclays reduced their price target on Ralph Lauren from $360.00 to $353.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $320.53.

Ralph Lauren Trading Up 1.2%

Shares of RL stock opened at $324.87 on Wednesday. The stock’s fifty day moving average price is $304.08 and its two-hundred day moving average price is $271.47. The company has a market cap of $19.68 billion, a PE ratio of 25.95, a P/E/G ratio of 1.62 and a beta of 1.61. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $325.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.70 EPS. Equities analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 26th. Ralph Lauren’s dividend payout ratio is presently 29.15%.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.