QUANTRES ASSET MANAGEMENT Ltd reduced its stake in shares of Ralph Lauren Corp (NYSE:RL) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,100 shares of the textile maker’s stock after selling 500 shares during the period. QUANTRES ASSET MANAGEMENT Ltd’s holdings in Ralph Lauren were worth $1,047,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in RL. Northwestern Mutual Wealth Management Co. raised its position in Ralph Lauren by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock worth $101,000 after purchasing an additional 96 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Ralph Lauren by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,226 shares of the textile maker’s stock worth $164,000 after acquiring an additional 238 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Ralph Lauren in the 3rd quarter worth about $205,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Ralph Lauren in the 3rd quarter worth about $209,000. Finally, TLP Group LLC raised its position in shares of Ralph Lauren by 5,614.8% in the 2nd quarter. TLP Group LLC now owns 3,486 shares of the textile maker’s stock worth $257,000 after acquiring an additional 3,425 shares in the last quarter. 66.87% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Cowen set a $89.00 price objective on Ralph Lauren and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Buckingham Research lifted their price objective on Ralph Lauren from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Ralph Lauren in a research report on Tuesday, September 12th. TheStreet raised Ralph Lauren from a “c” rating to a “b-” rating in a research report on Monday, November 6th. Finally, Miller Tabak lowered Ralph Lauren from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.66.
Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 2nd. The textile maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a return on equity of 14.06% and a net margin of 1.29%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. equities analysts anticipate that Ralph Lauren Corp will post 5.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. Ralph Lauren’s dividend payout ratio (DPR) is currently 206.19%.
In other Ralph Lauren news, insider Valerie Hermann sold 2,400 shares of Ralph Lauren stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $91.22, for a total transaction of $218,928.00. Following the completion of the transaction, the insider now owns 35,028 shares in the company, valued at approximately $3,195,254.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.93% of the stock is currently owned by insiders.
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About Ralph Lauren
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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