Hartford Investment Management Co. raised its holdings in Ralph Lauren Corp (NYSE:RL) by 129.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,773 shares of the textile maker’s stock after purchasing an additional 19,603 shares during the quarter. Hartford Investment Management Co.’s holdings in Ralph Lauren were worth $4,509,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RL. Oregon Public Employees Retirement Fund grew its stake in Ralph Lauren by 11,845.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock worth $26,000 after purchasing an additional 2,703,760 shares in the last quarter. Norges Bank purchased a new stake in Ralph Lauren during the 4th quarter worth about $72,636,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Ralph Lauren by 181.1% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 826,620 shares of the textile maker’s stock worth $85,522,000 after buying an additional 532,519 shares during the last quarter. Highbridge Capital Management LLC lifted its holdings in Ralph Lauren by 165.4% during the 4th quarter. Highbridge Capital Management LLC now owns 98,100 shares of the textile maker’s stock worth $10,149,000 after buying an additional 248,100 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Ralph Lauren by 5.1% during the 4th quarter. BlackRock Inc. now owns 4,137,377 shares of the textile maker’s stock worth $428,052,000 after buying an additional 200,314 shares during the last quarter. Institutional investors own 65.84% of the company’s stock.
Shares of RL traded down $1.18 on Wednesday, reaching $112.79. The stock had a trading volume of 1,158,100 shares, compared to its average volume of 1,038,817. The stock has a market cap of $8.85 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.41 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.00 and a quick ratio of 2.18. Ralph Lauren Corp has a twelve month low of $95.63 and a twelve month high of $147.79.
Ralph Lauren (NYSE:RL) last announced its earnings results on Tuesday, May 14th. The textile maker reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Ralph Lauren had a return on equity of 17.38% and a net margin of 6.83%. Ralph Lauren’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. Research analysts expect that Ralph Lauren Corp will post 7.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.63. Ralph Lauren’s dividend payout ratio is 34.77%.
A number of analysts have issued reports on RL shares. Zacks Investment Research raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a report on Thursday, February 7th. Needham & Company LLC boosted their target price on Ralph Lauren from $122.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, February 6th. Deutsche Bank reduced their target price on Ralph Lauren from $160.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. TheStreet downgraded Ralph Lauren from a “b” rating to a “c+” rating in a report on Tuesday, May 14th. Finally, Wells Fargo & Co set a $130.00 price objective on Ralph Lauren and gave the company a “hold” rating in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $137.47.
In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total transaction of $252,000.00. Following the transaction, the director now owns 7,278 shares of the company’s stock, valued at approximately $917,028. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 32.49% of the stock is currently owned by corporate insiders.
Ralph Lauren 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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