Scopus Asset Management L.P. acquired a new position in Ralph Lauren Corp (NYSE:RL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 250,000 shares of the textile maker’s stock, valued at approximately $27,950,000. Scopus Asset Management L.P. owned approximately 0.31% of Ralph Lauren at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Adviser Investments LLC bought a new position in shares of Ralph Lauren during the 1st quarter worth approximately $106,000. O Shaughnessy Asset Management LLC bought a new position in Ralph Lauren in the 1st quarter valued at $112,000. Bray Capital Advisors bought a new position in Ralph Lauren in the 1st quarter valued at $135,000. Rampart Investment Management Company LLC raised its position in Ralph Lauren by 118.2% in 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, Zeke Capital Advisors LLC bought a new position in Ralph Lauren in the 4th quarter valued at $201,000. 68.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on RL. Guggenheim restated a “hold” rating on shares of Ralph Lauren in a research report on Wednesday, May 23rd. TheStreet raised Ralph Lauren from a “c” rating to a “b” rating in a research note on Wednesday, May 23rd. Piper Jaffray Companies boosted their price target on Ralph Lauren from $102.00 to $104.00 and gave the company a “sell” rating in a report on Thursday, May 24th. Zacks Investment Research upgraded Ralph Lauren from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Wednesday, April 11th. Finally, Royal Bank of Canada set a $130.00 price objective on Ralph Lauren and gave the company a “hold” rating in a research note on Thursday, May 24th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Ralph Lauren currently has a consensus rating of “Hold” and an average price target of $124.56.
Ralph Lauren stock opened at $125.72 on Friday. 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 Corp has a 52 week low of $70.36 and a 52 week high of $145.94. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.28 and a beta of 0.70.
Ralph Lauren (NYSE:RL) last issued its earnings results on Wednesday, May 23rd. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Ralph Lauren had a net margin of 2.63% and a return on equity of 14.49%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. sell-side analysts expect that Ralph Lauren Corp will post 6.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a $0.625 dividend. The ex-dividend date is Thursday, June 28th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.50. This represents a $2.50 annualized dividend and a yield of 1.99%. Ralph Lauren’s payout ratio is 41.46%.
In other Ralph Lauren news, insider David R. Lauren sold 1,764 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $142.94, for a total value of $252,146.16. Following the completion of the sale, the insider now directly owns 633,197 shares of the company’s stock, valued at $90,509,179.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.49% of the stock is currently owned by insiders.
Ralph Lauren Company 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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