State Treasurer State of Michigan cut its position in Ralph Lauren Corp (NYSE:RL) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,241 shares of the textile maker’s stock after selling 400 shares during the quarter. State Treasurer State of Michigan’s holdings in Ralph Lauren were worth $1,976,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of RL. Vanguard Group Inc boosted its stake in Ralph Lauren by 2.1% during the third quarter. Vanguard Group Inc now owns 6,708,738 shares of the textile maker’s stock worth $922,788,000 after acquiring an additional 137,325 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ralph Lauren by 5.1% during the fourth quarter. BlackRock Inc. now owns 4,137,377 shares of the textile maker’s stock worth $428,052,000 after acquiring an additional 200,314 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Ralph Lauren by 11,845.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock worth $26,000 after acquiring an additional 2,703,760 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ralph Lauren by 5.8% during the third quarter. JPMorgan Chase & Co. now owns 1,930,528 shares of the textile maker’s stock worth $265,544,000 after acquiring an additional 106,003 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ralph Lauren by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 922,088 shares of the textile maker’s stock worth $95,271,000 after acquiring an additional 58,183 shares in the last quarter. Institutional investors own 65.84% of the company’s stock.
Several research analysts have commented on the stock. TheStreet downgraded shares of Ralph Lauren from a “b” rating to a “c+” rating in a research note on Tuesday, May 14th. Nomura decreased their price target on shares of Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. Telsey Advisory Group reissued an “outperform” rating and set a $155.00 price target on shares of Ralph Lauren in a research note on Wednesday, May 15th. Bank of America decreased their price target on shares of Ralph Lauren from $114.00 to $108.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 15th. Finally, Zacks Investment Research downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $137.47.
In other news, Director Joyce F. Brown sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $126.00, for a total transaction of $252,000.00. Following the sale, the director now owns 7,278 shares in the company, valued at approximately $917,028. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 32.49% of the company’s stock.
Shares of RL stock traded up $2.32 during mid-day trading on Tuesday, reaching $114.24. 19,788 shares of the company’s stock traded hands, compared to its average volume of 1,035,634. Ralph Lauren Corp has a 12 month low of $95.63 and a 12 month high of $147.79. The stock has a market cap of $8.85 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.41 and a beta of 0.69. The company has a current ratio of 3.00, a quick ratio of 2.18 and a debt-to-equity ratio of 0.21.
Ralph Lauren (NYSE:RL) last announced its earnings results on Tuesday, May 14th. The textile maker reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.14. Ralph Lauren had a net margin of 6.83% and a return on equity of 17.38%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Ralph Lauren Corp will post 7.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders 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 dividend yield of 2.41%. 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 payout ratio is 34.77%.
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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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