Virginia Retirement Systems ET AL grew its stake in shares of Ralph Lauren Corp (NYSE:RL) by 2.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 44,500 shares of the textile maker’s stock after purchasing an additional 1,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Ralph Lauren were worth $6,121,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in RL. IFM Investors Pty Ltd bought a new position in Ralph Lauren during the second quarter valued at about $262,000. NN Investment Partners Holdings N.V. increased its stake in shares of Ralph Lauren by 25.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 10,068 shares of the textile maker’s stock worth $1,266,000 after purchasing an additional 2,068 shares during the period. Atria Investments LLC bought a new position in shares of Ralph Lauren in the second quarter worth about $240,000. Bank of Montreal Can increased its stake in shares of Ralph Lauren by 60.6% in the second quarter. Bank of Montreal Can now owns 124,987 shares of the textile maker’s stock worth $15,714,000 after purchasing an additional 47,184 shares during the period. Finally, Scout Investments Inc. bought a new position in shares of Ralph Lauren in the second quarter worth about $16,291,000. Hedge funds and other institutional investors own 69.95% of the company’s stock.
A number of research firms have recently commented on RL. Barclays set a $124.00 price objective on Ralph Lauren and gave the stock a “sell” rating in a research note on Wednesday. Wells Fargo & Co set a $130.00 price objective on Ralph Lauren and gave the stock a “hold” rating in a research note on Tuesday. Guggenheim reiterated a “hold” rating on shares of Ralph Lauren in a research note on Tuesday. Deutsche Bank began coverage on Ralph Lauren in a research note on Monday, October 29th. They issued a “buy” rating and a $149.00 price objective on the stock. Finally, Buckingham Research lifted their price objective on Ralph Lauren from $138.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $137.38.
RL stock opened at $123.93 on Friday. Ralph Lauren Corp has a twelve month low of $85.91 and a twelve month high of $147.79. The stock has a market cap of $10.34 billion, a P/E ratio of 20.55, a PEG ratio of 1.97 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.70 and a current ratio of 2.98.
Ralph Lauren (NYSE:RL) last released its earnings results on Tuesday, November 6th. The textile maker reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.10. Ralph Lauren had a return on equity of 16.19% and a net margin of 3.82%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business earned $1.99 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Ralph Lauren Corp will post 6.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, September 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 41.46%.
Ralph Lauren 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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