Ralph Lauren Corporation (NYSE:RL) Stake Maintained by First Manhattan Co.

First Manhattan Co. held its position in shares of Ralph Lauren Corporation (NYSE:RL) during the second quarter, Holdings Channel reports. The fund owned 3,750 shares of the textile maker’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Ralph Lauren Corporation were worth $276,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Gateway Investment Advisers LLC raised its stake in Ralph Lauren Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 3,741 shares of the textile maker’s stock worth $276,000 after buying an additional 12 shares in the last quarter. Capstone Asset Management Co. raised its stake in Ralph Lauren Corporation by 1.7% in the second quarter. Capstone Asset Management Co. now owns 3,681 shares of the textile maker’s stock worth $272,000 after buying an additional 60 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Ralph Lauren Corporation by 0.6% in the first quarter. Sunbelt Securities Inc. now owns 13,204 shares of the textile maker’s stock worth $1,078,000 after buying an additional 74 shares in the last quarter. Mason Street Advisors LLC raised its stake in Ralph Lauren Corporation by 1.0% in the first quarter. Mason Street Advisors LLC now owns 7,784 shares of the textile maker’s stock worth $635,000 after buying an additional 80 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Ralph Lauren Corporation by 2.1% in the first quarter. Amalgamated Bank now owns 4,012 shares of the textile maker’s stock worth $327,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 58.45% of the company’s stock.

Ralph Lauren Corporation (NYSE RL) opened at 83.84 on Friday. The stock’s 50 day moving average is $74.78 and its 200-day moving average is $77.14. The company’s market capitalization is $6.84 billion. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00.

Ralph Lauren Corporation (NYSE:RL) last announced its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.15. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. Analysts predict that Ralph Lauren Corporation will post $5.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 annualized dividend and a yield of 2.39%. Ralph Lauren Corporation’s dividend payout ratio (DPR) is -869.57%.

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A number of equities research analysts recently weighed in on the stock. Piper Jaffray Companies restated a “sell” rating and issued a $66.00 target price on shares of Ralph Lauren Corporation in a report on Friday, July 14th. Cowen and Company restated a “hold” rating and issued a $80.00 target price (up previously from $78.00) on shares of Ralph Lauren Corporation in a report on Tuesday, July 18th. Buckingham Research restated a “neutral” rating and issued a $68.00 target price on shares of Ralph Lauren Corporation in a report on Monday, July 17th. Atlantic Securities upgraded shares of Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $93.00 in a report on Wednesday. Finally, BidaskClub upgraded shares of Ralph Lauren Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $90.23.

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

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