PGGM Investments increased its stake in Ralph Lauren Corp. (NYSE:RL) by 33.4% during the second quarter, Holdings Channel reports. The institutional investor owned 361,894 shares of the company’s stock after buying an additional 90,566 shares during the period. PGGM Investments’ holdings in Ralph Lauren Corp. were worth $32,433,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Trust Department MB Financial Bank N A raised its stake in Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock valued at $149,000 after buying an additional 1,002 shares during the last quarter. Kazazian Asset Management LLC purchased a new stake in Ralph Lauren Corp. during the first quarter valued at about $111,000. Exane Derivatives raised its stake in Ralph Lauren Corp. by 15.8% in the first quarter. Exane Derivatives now owns 1,583 shares of the company’s stock valued at $152,000 after buying an additional 216 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Ralph Lauren Corp. during the first quarter valued at about $221,000. Finally, HL Financial Services LLC raised its stake in Ralph Lauren Corp. by 2.9% in the second quarter. HL Financial Services LLC now owns 5,028 shares of the company’s stock valued at $451,000 after buying an additional 142 shares during the last quarter. 63.74% of the stock is currently owned by institutional investors.
Shares of Ralph Lauren Corp. (NYSE:RL) traded up 1.13% during trading on Tuesday, reaching $97.86. 583,924 shares of the company’s stock traded hands. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 26.75 and a beta of 1.11. Ralph Lauren Corp. has a 1-year low of $82.15 and a 1-year high of $137.38. The stock has a 50-day moving average of $103.50 and a 200-day moving average of $96.62.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts predict that Ralph Lauren Corp. will post $5.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. Ralph Lauren Corp.’s payout ratio is currently 55.25%.
A number of research analysts recently weighed in on RL shares. Vetr raised shares of Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 price target on the stock in a research note on Monday, June 27th. Miller Tabak lowered shares of Ralph Lauren Corp. from a “buy” rating to a “hold” rating and set a $115.00 price target on the stock. in a research note on Wednesday, June 8th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $95.00 price target (up from $85.00) on shares of Ralph Lauren Corp. in a research note on Wednesday, August 10th. Bank of America Corp. set a $110.00 price target on shares of Ralph Lauren Corp. and gave the company a “hold” rating in a research note on Thursday, August 11th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Ralph Lauren Corp. in a research note on Wednesday, June 8th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Ralph Lauren Corp. currently has an average rating of “Hold” and a consensus target price of $109.72.
About Ralph Lauren Corp.
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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