KLP Kapitalforvaltning AS Cuts Stake in Ralph Lauren Corporation $RL

KLP Kapitalforvaltning AS reduced its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,400 shares of the textile maker’s stock after selling 100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Ralph Lauren were worth $2,586,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Ralph Lauren during the 1st quarter worth approximately $33,000. Brooklyn Investment Group increased its stake in Ralph Lauren by 180.3% during the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker’s stock worth $38,000 after buying an additional 110 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ralph Lauren during the 1st quarter worth approximately $39,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Ralph Lauren during the 1st quarter worth approximately $43,000. Finally, MRP Capital Investments LLC lifted its stake in Ralph Lauren by 175.0% in the first quarter. MRP Capital Investments LLC now owns 275 shares of the textile maker’s stock worth $61,000 after acquiring an additional 175 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RL has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Evercore ISI lifted their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Telsey Advisory Group lifted their price target on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Barclays decreased their price target on shares of Ralph Lauren from $360.00 to $353.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Finally, Wells Fargo & Company lifted their price target on shares of Ralph Lauren from $320.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.53.

Ralph Lauren Stock Down 4.1%

Shares of NYSE:RL opened at $309.71 on Friday. The company has a market capitalization of $18.76 billion, a PE ratio of 24.74, a P/E/G ratio of 1.56 and a beta of 1.61. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a twelve month low of $176.61 and a twelve month high of $330.11. The firm has a 50 day simple moving average of $305.40 and a 200-day simple moving average of $273.31.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.70 EPS. On average, equities analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren’s payout ratio is presently 29.15%.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.