First Mercantile Trust Co. decreased its stake in Ralph Lauren Corp. (NYSE:RL) by 11.6% during the second quarter, Holdings Channel reports. The fund owned 3,345 shares of the company’s stock after selling 437 shares during the period. First Mercantile Trust Co.’s holdings in Ralph Lauren Corp. were worth $300,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. UBS Group AG boosted its stake in Ralph Lauren Corp. by 316.0% in the first quarter. UBS Group AG now owns 92,062 shares of the company’s stock valued at $8,861,000 after buying an additional 69,933 shares during the last quarter. Third Avenue Management LLC acquired a new stake in Ralph Lauren Corp. during the first quarter valued at $22,030,000. Canada Pension Plan Investment Board boosted its stake in Ralph Lauren Corp. by 129.7% in the first quarter. Canada Pension Plan Investment Board now owns 36,066 shares of the company’s stock valued at $3,472,000 after buying an additional 20,366 shares during the last quarter. Aviva PLC boosted its stake in Ralph Lauren Corp. by 1.0% in the first quarter. Aviva PLC now owns 36,271 shares of the company’s stock valued at $3,492,000 after buying an additional 344 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Ralph Lauren Corp. by 13.5% in the first quarter. M&T Bank Corp now owns 9,107 shares of the company’s stock valued at $875,000 after buying an additional 1,083 shares during the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. (NYSE:RL) opened at 101.14 on Friday. The company has a 50-day moving average price of $103.27 and a 200 day moving average price of $96.67. Ralph Lauren Corp. has a 1-year low of $82.15 and a 1-year high of $137.38. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 27.64 and a beta of 1.11.
Ralph Lauren Corp. (NYSE:RL) last posted its earnings results on Wednesday, August 10th. The company reported $1.06 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Ralph Lauren Corp. will post $5.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio is currently 55.25%.
Several research analysts have commented on RL shares. Zacks Investment Research raised Ralph Lauren Corp. from a “sell” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Friday, August 12th. Cowen and Company reaffirmed a “market perform” rating and set a $101.00 price target (up previously from $98.00) on shares of Ralph Lauren Corp. in a research report on Saturday, August 13th. Deutsche Bank AG reaffirmed a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Ralph Lauren Corp. in a research report on Wednesday, August 10th. Citigroup Inc. lifted their price target on Ralph Lauren Corp. from $107.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, Goldman Sachs Group Inc. boosted their target price on Ralph Lauren Corp. from $113.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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.
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