JPMorgan Chase & Co. lowered its position in shares of Ralph Lauren Corp. (NYSE:RL) by 82.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,295 shares of the company’s stock after selling 831,773 shares during the period. JPMorgan Chase & Co. owned approximately 0.21% of Ralph Lauren Corp. worth $15,890,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in RL. Trust Department MB Financial Bank N A increased its stake in shares of 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 in the last quarter. Kazazian Asset Management LLC acquired a new stake in shares of Ralph Lauren Corp. during the first quarter valued at $111,000. Exane Derivatives increased its stake in shares of 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 in the last quarter. Commonwealth Equity Services Inc acquired a new stake in shares of Ralph Lauren Corp. during the second quarter valued at $202,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Ralph Lauren Corp. during the first quarter valued at $221,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. (NYSE:RL) traded up 2.07% on Thursday, hitting $99.97. The stock had a trading volume of 584,550 shares. The company has a market cap of $8.22 billion, a P/E ratio of 27.32 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 price of $103.58 and a 200 day moving average price of $96.63.
Ralph Lauren Corp. (NYSE:RL) last released its earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The company earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $1.09 EPS. Ralph Lauren Corp.’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio (DPR) is presently 55.25%.
Several analysts recently weighed in on the company. Deutsche Bank AG restated a “hold” rating and set a $95.00 price objective (up from $85.00) on shares of Ralph Lauren Corp. in a research report on Wednesday, August 10th. Piper Jaffray Cos. restated a “hold” rating on shares of Ralph Lauren Corp. in a research report on Monday, June 13th. Vetr upgraded Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 price objective for the company in a research report on Monday, June 27th. Goldman Sachs Group Inc. upped their price objective on Ralph Lauren Corp. from $113.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, Miller Tabak downgraded Ralph Lauren Corp. from a “buy” rating to a “hold” rating and set a $115.00 price objective for the company. in a research report on Wednesday, June 8th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $110.63.
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.
Receive News & Ratings for Ralph Lauren Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ralph Lauren Corp. and related companies with MarketBeat.com's FREE daily email newsletter.