Comerica Bank Decreases Position in Ralph Lauren Corporation (RL)

Comerica Bank lowered its stake in Ralph Lauren Corporation (NYSE:RL) by 1.0% during the first quarter, Holdings Channel reports. The firm owned 13,721 shares of the textile maker’s stock after selling 140 shares during the period. Comerica Bank’s holdings in Ralph Lauren Corporation were worth $1,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foresters Investment Management Company Inc. boosted its position in Ralph Lauren Corporation by 0.4% in the fourth quarter. Foresters Investment Management Company Inc. now owns 26,300 shares of the textile maker’s stock valued at $2,353,000 after buying an additional 100 shares during the period. Willis Investment Counsel boosted its position in Ralph Lauren Corporation by 0.4% in the fourth quarter. Willis Investment Counsel now owns 30,246 shares of the textile maker’s stock valued at $2,732,000 after buying an additional 135 shares during the period. GLG LLC boosted its position in Ralph Lauren Corporation by 6.8% in the fourth quarter. GLG LLC now owns 3,406 shares of the textile maker’s stock valued at $308,000 after buying an additional 217 shares during the period. Creative Planning boosted its position in Ralph Lauren Corporation by 4.7% in the first quarter. Creative Planning now owns 5,601 shares of the textile maker’s stock valued at $457,000 after buying an additional 250 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Ralph Lauren Corporation by 11.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,755 shares of the textile maker’s stock valued at $249,000 after buying an additional 290 shares during the period. Institutional investors own 58.12% of the company’s stock.

Institutional Ownership by Quarter for Ralph Lauren Corporation (NYSE:RL)

Shares of Ralph Lauren Corporation (NYSE RL) opened at 71.43 on Tuesday. The firm’s market cap is $5.79 billion. Ralph Lauren Corporation has a 52 week low of $66.06 and a 52 week high of $114.00. The company’s 50-day moving average is $72.92 and its 200-day moving average is $82.06.

Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings data on Thursday, May 18th. The textile maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. The firm’s revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Analysts forecast that Ralph Lauren Corporation will post $4.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio is presently -163.93%.

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Several research firms have commented on RL. Vetr upgraded shares of Ralph Lauren Corporation from a “sell” rating to a “hold” rating and set a $77.89 price target for the company in a report on Tuesday, April 4th. Cowen and Company reiterated a “market perform” rating and set a $78.00 price target (down previously from $84.00) on shares of Ralph Lauren Corporation in a report on Friday, May 19th. BidaskClub upgraded shares of Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded shares of Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $74.00 price target (down previously from $78.00) on shares of Ralph Lauren Corporation in a report on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.37.

About Ralph Lauren Corporation

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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