The Manufacturers Life Insurance Company lowered its stake in Ralph Lauren Corp (NYSE:RL) by 4.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,795 shares of the textile maker’s stock after selling 6,903 shares during the period. The Manufacturers Life Insurance Company owned 0.21% of Ralph Lauren worth $18,648,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in Ralph Lauren by 5.7% during the 4th quarter. Amalgamated Bank now owns 11,505 shares of the textile maker’s stock valued at $1,193,000 after purchasing an additional 619 shares during the last quarter. Norinchukin Bank The boosted its stake in Ralph Lauren by 14.7% during the 1st quarter. Norinchukin Bank The now owns 5,078 shares of the textile maker’s stock valued at $568,000 after purchasing an additional 649 shares during the last quarter. Bank of Hawaii boosted its stake in Ralph Lauren by 11.2% during the 1st quarter. Bank of Hawaii now owns 7,045 shares of the textile maker’s stock valued at $788,000 after purchasing an additional 710 shares during the last quarter. Rampart Investment Management Company LLC boosted its stake in Ralph Lauren by 118.2% during the 1st quarter. Rampart Investment Management Company LLC now owns 1,628 shares of the textile maker’s stock valued at $182,000 after purchasing an additional 882 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Ralph Lauren by 11.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 9,151 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 909 shares during the last quarter. Institutional investors own 68.83% of the company’s stock.
Several analysts have commented on RL shares. Cowen upgraded Ralph Lauren from a “market perform” rating to an “outperform” rating and cut their target price for the company from $119.33 to $66.06 in a research note on Thursday, March 22nd. Zacks Investment Research downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. ValuEngine downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Credit Suisse Group started coverage on Ralph Lauren in a research note on Monday, March 12th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Guggenheim reiterated a “hold” rating on shares of Ralph Lauren in a research note on Wednesday, May 23rd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ralph Lauren currently has a consensus rating of “Hold” and an average target price of $124.87.
In other news, insider David R. Lauren sold 1,764 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $142.94, for a total value of $252,146.16. Following the transaction, the insider now directly owns 633,197 shares in the company, valued at approximately $90,509,179.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 32.93% of the company’s stock.
Ralph Lauren opened at $130.26 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $11.02 billion, a PE ratio of 22.40, a PEG ratio of 2.50 and a beta of 0.70. Ralph Lauren Corp has a 1 year low of $70.36 and a 1 year high of $145.94. The company has a current ratio of 2.24, a quick ratio of 1.76 and a debt-to-equity ratio of 0.08.
Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Wednesday, May 23rd. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.07. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. Ralph Lauren had a return on equity of 14.49% and a net margin of 2.63%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. equities research analysts expect that Ralph Lauren Corp will post 6.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be paid a $0.625 dividend. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.50. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, June 28th. Ralph Lauren’s dividend payout ratio (DPR) is 33.17%.
Ralph Lauren Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
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