Pictet Asset Management Holding SA Sells 88,513 Shares of Ralph Lauren Co. (NYSE:RL)

Pictet Asset Management Holding SA cut its stake in shares of Ralph Lauren Co. (NYSE:RL) by 20.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,891 shares of the textile maker’s stock after selling 88,513 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ralph Lauren were worth $80,125,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RL. EverSource Wealth Advisors LLC grew its position in Ralph Lauren by 1,270.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Ralph Lauren by 281.1% in the fourth quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker’s stock worth $47,000 after buying an additional 149 shares in the last quarter. True Wealth Design LLC increased its position in shares of Ralph Lauren by 8,933.3% during the third quarter. True Wealth Design LLC now owns 271 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 268 shares in the last quarter. Versant Capital Management Inc raised its holdings in Ralph Lauren by 333.3% in the 4th quarter. Versant Capital Management Inc now owns 351 shares of the textile maker’s stock worth $81,000 after acquiring an additional 270 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Ralph Lauren in the 3rd quarter valued at approximately $97,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RL shares. TD Cowen lifted their target price on Ralph Lauren from $258.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Guggenheim lifted their price objective on Ralph Lauren from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James cut shares of Ralph Lauren from an “outperform” rating to a “market perform” rating in a research note on Monday, January 27th. Argus upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Tuesday, December 31st. Finally, Jefferies Financial Group increased their price objective on shares of Ralph Lauren from $285.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ralph Lauren has a consensus rating of “Moderate Buy” and a consensus target price of $284.62.

Ralph Lauren Stock Down 4.3 %

RL opened at $215.46 on Friday. The firm’s 50 day simple moving average is $251.01 and its two-hundred day simple moving average is $226.14. The company has a market capitalization of $13.31 billion, a PE ratio of 19.66, a PEG ratio of 1.73 and a beta of 1.50. 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 announced its earnings results on Thursday, February 6th. The textile maker reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. As a group, equities analysts forecast that Ralph Lauren Co. will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, March 28th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.53%. Ralph Lauren’s dividend payout ratio (DPR) is presently 30.11%.

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.