ETF Managers Group LLC increased its stake in shares of Ralph Lauren Corp (NYSE:RL) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,293 shares of the textile maker’s stock after purchasing an additional 110 shares during the quarter. ETF Managers Group LLC’s holdings in Ralph Lauren were worth $168,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc grew its holdings in Ralph Lauren by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 6,708,738 shares of the textile maker’s stock valued at $922,788,000 after buying an additional 137,325 shares during the period. BlackRock Inc. grew its holdings in shares of 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 purchasing an additional 200,314 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of 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 during the period. Geode Capital Management LLC grew its holdings in shares of Ralph Lauren by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 922,088 shares of the textile maker’s stock worth $95,271,000 after purchasing an additional 58,183 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in shares of 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 purchasing an additional 532,519 shares during the period. Hedge funds and other institutional investors own 66.21% of the company’s stock.
A number of analysts have recently issued reports on RL shares. Royal Bank of Canada upgraded Ralph Lauren from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $145.00 in a report on Thursday, May 9th. Zacks Investment Research cut Ralph Lauren from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Co set a $130.00 target price on Ralph Lauren and gave the stock a “hold” rating in a report on Tuesday, February 5th. Telsey Advisory Group upgraded Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Thursday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on Ralph Lauren from $140.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have given 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.
Ralph Lauren stock opened at $109.24 on Friday. The company has a market cap of $8.96 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a current ratio of 3.00, a quick ratio of 2.31 and a debt-to-equity ratio of 0.21. Ralph Lauren Corp has a one year low of $95.63 and a one year high of $147.79.
Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Tuesday, May 14th. The textile maker reported $1.07 EPS for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Ralph Lauren had a return on equity of 17.38% and a net margin of 6.83%. Ralph Lauren’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Sell-side analysts expect that Ralph Lauren Corp will post 7.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.6875 per share. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.63. This represents a $2.75 annualized dividend and a yield of 2.52%. Ralph Lauren’s payout ratio is 34.77%.
In related news, Director Joyce F. Brown sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owns 7,278 shares of the company’s stock, valued at approximately $917,028. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 32.49% of the company’s stock.
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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