The Manufacturers Life Insurance Company cut its position in shares of Ralph Lauren Corp (NYSE:RL) by 4.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 166,795 shares of the textile maker’s stock after selling 6,903 shares during the quarter. The Manufacturers Life Insurance Company owned 0.21% of Ralph Lauren worth $18,648,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Adviser Investments LLC acquired a new stake in Ralph Lauren during the first quarter valued at $106,000. O Shaughnessy Asset Management LLC bought a new position in shares of Ralph Lauren in the first quarter worth about $112,000. Bray Capital Advisors bought a new position in shares of Ralph Lauren in the first quarter worth about $135,000. Rampart Investment Management Company LLC increased its stake in shares of Ralph Lauren by 118.2% in the first quarter. Rampart Investment Management Company LLC now owns 1,628 shares of the textile maker’s stock worth $182,000 after purchasing an additional 882 shares during the period. Finally, Zeke Capital Advisors LLC bought a new position in shares of Ralph Lauren in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 68.97% of the company’s stock.
Several brokerages recently issued reports on RL. Citigroup boosted their price target on Ralph Lauren from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, June 8th. Goldman Sachs Group started coverage on Ralph Lauren in a report on Monday, June 25th. They set a “neutral” rating and a $131.00 price objective on the stock. Piper Jaffray Companies boosted their target price on Ralph Lauren from $104.00 to $125.00 and gave the stock an “underweight” rating in a report on Friday, June 22nd. They noted that the move was a valuation call. Barclays upped their price objective on Ralph Lauren from $110.00 to $114.00 and gave the stock a “sell” rating in a report on Friday, June 8th. Finally, Guggenheim restated a “hold” rating on shares of Ralph Lauren in a research report on Friday, June 8th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Ralph Lauren has a consensus rating of “Hold” and a consensus price target of $124.56.
Shares of Ralph Lauren opened at $125.72 on Friday, Marketbeat Ratings reports. Ralph Lauren Corp has a 52 week low of $70.36 and a 52 week high of $145.94. The firm has a market cap of $10.35 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. 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 announced its earnings results on Wednesday, May 23rd. The textile maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Ralph Lauren had a net margin of 2.63% and a return on equity of 14.49%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $0.89 earnings per share. Ralph Lauren’s quarterly revenue was down 2.3% on a year-over-year basis. equities analysts anticipate that Ralph Lauren Corp will post 6.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, June 28th. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.50. This represents a $2.50 annualized dividend and a dividend yield of 1.99%. Ralph Lauren’s payout ratio is presently 41.46%.
In related news, insider David R. Lauren sold 1,764 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $142.94, for a total transaction of $252,146.16. Following the transaction, the insider now directly owns 633,197 shares in the company, valued at $90,509,179.18. The transaction was disclosed in a filing with the SEC, which can be accessed 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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