Allspring Global Investments Holdings LLC Sells 889 Shares of Ralph Lauren Co. (NYSE:RL)

Allspring Global Investments Holdings LLC reduced its position in Ralph Lauren Co. (NYSE:RL) by 31.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,947 shares of the textile maker’s stock after selling 889 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ralph Lauren were worth $377,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Family Firm Inc. bought a new stake in shares of Ralph Lauren in the 2nd quarter valued at $30,000. Gladius Capital Management LP acquired a new position in shares of Ralph Lauren during the 2nd quarter valued at $31,000. Versant Capital Management Inc lifted its position in shares of Ralph Lauren by 1,775.0% during the 2nd quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 213 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Ralph Lauren during the 1st quarter valued at $42,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ralph Lauren during the 1st quarter valued at $63,000. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Stock Performance

Shares of RL stock opened at $197.66 on Friday. The firm has a 50-day moving average of $188.90 and a 200-day moving average of $177.46. The company has a market cap of $12.24 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.53. Ralph Lauren Co. has a one year low of $111.30 and a one year high of $207.06.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.25. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Equities research analysts forecast that Ralph Lauren Co. will post 11.26 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.825 per share. The ex-dividend date was Friday, September 27th. This represents a $3.30 annualized dividend and a yield of 1.67%. Ralph Lauren’s payout ratio is currently 31.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Ralph Lauren from $195.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Guggenheim upped their price objective on shares of Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Cfra set a $171.00 price objective on shares of Ralph Lauren in a report on Thursday, October 17th. StockNews.com downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $194.36.

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.