Keene & Associates Inc. Sells 44 Shares of Ralph Lauren Co. (NYSE:RL)

Keene & Associates Inc. cut its stake in Ralph Lauren Co. (NYSE:RL) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,767 shares of the textile maker’s stock after selling 44 shares during the period. Keene & Associates Inc.’s holdings in Ralph Lauren were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of RL. Global Retirement Partners LLC lifted its holdings in Ralph Lauren by 34.3% during the 4th quarter. Global Retirement Partners LLC now owns 971 shares of the textile maker’s stock worth $224,000 after purchasing an additional 248 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Ralph Lauren by 78.0% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,111 shares of the textile maker’s stock worth $488,000 after buying an additional 925 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Ralph Lauren by 141.7% during the fourth quarter. Venturi Wealth Management LLC now owns 539 shares of the textile maker’s stock worth $124,000 after buying an additional 316 shares in the last quarter. Truist Financial Corp grew its stake in shares of Ralph Lauren by 5.6% in the fourth quarter. Truist Financial Corp now owns 279,156 shares of the textile maker’s stock valued at $64,480,000 after acquiring an additional 14,693 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Ralph Lauren by 2.8% in the fourth quarter. CIBC Asset Management Inc now owns 5,720 shares of the textile maker’s stock valued at $1,321,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on RL shares. The Goldman Sachs Group raised their target price on shares of Ralph Lauren from $220.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Argus upgraded Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Tuesday, December 31st. UBS Group lifted their price objective on Ralph Lauren from $332.00 to $348.00 and gave the company a “buy” rating in a report on Friday, February 7th. StockNews.com raised Ralph Lauren from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, BNP Paribas raised Ralph Lauren to a “strong-buy” rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average price target of $279.33.

Ralph Lauren Trading Up 1.5 %

RL opened at $286.87 on Wednesday. The company’s 50 day moving average is $245.55 and its 200-day moving average is $211.74. The company has a market cap of $17.72 billion, a P/E ratio of 26.17, a PEG ratio of 1.71 and a beta of 1.49. Ralph Lauren Co. has a 1-year low of $155.96 and a 1-year high of $289.33. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.36. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. Equities research analysts predict that Ralph Lauren Co. will post 11.98 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.825 dividend. The ex-dividend date was Friday, December 27th. This represents a $3.30 annualized dividend and a yield of 1.15%. Ralph Lauren’s dividend payout ratio is presently 30.11%.

Ralph Lauren Company Profile

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.