Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Ralph Lauren Corp (NYSE:RL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 62,700 shares of the textile maker’s stock, valued at approximately $6,501,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.08% of Ralph Lauren at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of RL. Zeke Capital Advisors LLC bought a new stake in Ralph Lauren in the 4th quarter worth about $201,000. Cigna Investments Inc. New bought a new stake in Ralph Lauren in the 4th quarter worth about $214,000. Jump Trading LLC bought a new stake in Ralph Lauren in the 4th quarter worth about $217,000. First Allied Advisory Services Inc. bought a new stake in Ralph Lauren in the 4th quarter worth about $223,000. Finally, Liberty Mutual Group Asset Management Inc. bought a new stake in Ralph Lauren in the 4th quarter worth about $229,000. Institutional investors own 73.64% of the company’s stock.
A number of brokerages have issued reports on RL. Piper Jaffray Companies set a $109.00 price objective on shares of Ralph Lauren and gave the stock a “sell” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of Ralph Lauren from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Telsey Advisory Group increased their target price on shares of Ralph Lauren from $109.00 to $115.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. ValuEngine raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Nomura increased their target price on shares of Ralph Lauren from $92.00 to $111.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $97.17.
Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, February 1st. The textile maker reported $2.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.16. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. Ralph Lauren’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.86 EPS. analysts predict that Ralph Lauren Corp will post 5.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 28th. Ralph Lauren’s dividend payout ratio (DPR) is presently -198.02%.
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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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