Sentry Investment Management LLC reduced its holdings in Ralph Lauren Corp (NYSE:RL) by 27.5% in the first quarter, HoldingsChannel reports. The firm owned 3,376 shares of the textile maker’s stock after selling 1,278 shares during the period. Sentry Investment Management LLC’s holdings in Ralph Lauren were worth $438,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RL. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ralph Lauren in the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund grew its stake in Ralph Lauren by 11,845.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 2,703,760 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in Ralph Lauren by 44.4% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 299 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 92 shares during the period. Liberty Wealth Management LLC acquired a new stake in Ralph Lauren in the fourth quarter valued at approximately $33,000. Finally, CSat Investment Advisory L.P. grew its stake in Ralph Lauren by 97.3% in the fourth quarter. CSat Investment Advisory L.P. now owns 436 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 66.21% of the company’s stock.
Shares of NYSE:RL opened at $109.24 on Friday. The company has a market cap of $8.59 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.31 and a current ratio of 3.00. Ralph Lauren Corp has a 12-month low of $95.63 and a 12-month high of $147.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.6875 per share. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, June 27th. This represents a $2.75 annualized dividend and a dividend yield of 2.52%. Ralph Lauren’s payout ratio is presently 34.77%.
In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total value of $252,000.00. Following the transaction, the director now owns 7,278 shares of the company’s stock, valued at $917,028. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.49% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the company. Nomura reduced their price objective on Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $155.00 price objective on shares of Ralph Lauren in a research note on Wednesday, May 15th. OTR Global raised Ralph Lauren to a “positive” rating in a research note on Friday, April 26th. Zacks Investment Research raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Thursday, February 7th. Finally, Wells Fargo & Co raised Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Ralph Lauren currently has a consensus rating of “Hold” and a consensus target price of $137.47.
Ralph Lauren Profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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