Fishman Jay A Ltd. MI reduced its stake in Ralph Lauren Corp (NYSE:RL) by 42.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,700 shares of the textile maker’s stock after selling 2,000 shares during the period. Fishman Jay A Ltd. MI’s holdings in Ralph Lauren were worth $258,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in Ralph Lauren by 4.4% in the second quarter. Renaissance Technologies LLC now owns 4,106,694 shares of the textile maker’s stock valued at $466,479,000 after buying an additional 171,700 shares in the last quarter. BlackRock Inc. raised its stake in Ralph Lauren by 1.6% in the second quarter. BlackRock Inc. now owns 4,091,952 shares of the textile maker’s stock valued at $464,804,000 after buying an additional 65,167 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ralph Lauren by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 1,811,060 shares of the textile maker’s stock valued at $204,829,000 after buying an additional 87,683 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ralph Lauren by 7.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,510,879 shares of the textile maker’s stock valued at $171,621,000 after buying an additional 108,474 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Ralph Lauren by 105.7% in the second quarter. Mackenzie Financial Corp now owns 1,188,995 shares of the textile maker’s stock valued at $135,058,000 after buying an additional 611,058 shares in the last quarter. Institutional investors and hedge funds own 65.54% of the company’s stock.
Shares of NYSE RL traded down $1.90 during midday trading on Friday, reaching $113.77. 1,495,207 shares of the company were exchanged, compared to its average volume of 1,118,336. The company has a current ratio of 2.30, a quick ratio of 1.68 and a debt-to-equity ratio of 0.72. Ralph Lauren Corp has a 1 year low of $82.69 and a 1 year high of $133.63. The stock has a fifty day simple moving average of $95.50 and a 200 day simple moving average of $104.67. The stock has a market cap of $7.88 billion, a P/E ratio of 15.82, a PEG ratio of 4.06 and a beta of 0.90.
Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $2.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.16. Ralph Lauren had a return on equity of 18.33% and a net margin of 6.91%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company posted $2.26 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corp will post 7.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Thursday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is presently 38.25%.
In related news, major shareholder Family L.L.C. Lauren sold 107,142 shares of Ralph Lauren stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $99.74, for a total transaction of $10,686,343.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jane Nielsen sold 10,000 shares of Ralph Lauren stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $113.84, for a total value of $1,138,400.00. Following the transaction, the chief financial officer now owns 65,308 shares of the company’s stock, valued at $7,434,662.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 367,140 shares of company stock valued at $34,821,702. Insiders own 34.26% of the company’s stock.
A number of research firms have weighed in on RL. Telsey Advisory Group restated an “outperform” rating and issued a $130.00 price target (down from $155.00) on shares of Ralph Lauren in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut Ralph Lauren from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Bank of America cut their target price on Ralph Lauren from $98.00 to $76.00 and set an “underperform” rating on the stock in a research report on Monday, August 26th. Piper Jaffray Companies lifted their target price on Ralph Lauren from $91.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Guggenheim reiterated a “hold” rating on shares of Ralph Lauren in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $128.93.
Ralph Lauren Company Profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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