Bank of Nova Scotia Reduces Holdings in Ralph Lauren Co. (NYSE:RL)

Bank of Nova Scotia reduced its holdings in shares of Ralph Lauren Co. (NYSE:RLGet Rating) by 41.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,829 shares of the textile maker’s stock after selling 2,018 shares during the period. Bank of Nova Scotia’s holdings in Ralph Lauren were worth $253,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Ralph Lauren by 112.2% during the 2nd quarter. CWM LLC now owns 488 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 258 shares in the last quarter. Covestor Ltd boosted its stake in shares of Ralph Lauren by 89.6% during the 1st quarter. Covestor Ltd now owns 916 shares of the textile maker’s stock worth $104,000 after purchasing an additional 433 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Ralph Lauren during the 2nd quarter worth about $111,000. Loomis Sayles & Co. L P acquired a new stake in shares of Ralph Lauren during the 1st quarter worth about $200,000. Finally, Keene & Associates Inc. boosted its stake in shares of Ralph Lauren by 9.3% during the 2nd quarter. Keene & Associates Inc. now owns 2,361 shares of the textile maker’s stock worth $212,000 after purchasing an additional 200 shares during the last quarter. 63.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RL. TheStreet raised shares of Ralph Lauren from a “c+” rating to a “b-” rating in a research note on Monday, November 7th. Cowen raised their price target on shares of Ralph Lauren from $128.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 11th. StockNews.com assumed coverage on shares of Ralph Lauren in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays decreased their target price on shares of Ralph Lauren to $101.00 in a research report on Wednesday, November 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ralph Lauren from $133.00 to $131.00 in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ralph Lauren presently has a consensus rating of “Hold” and a consensus price target of $115.85.

Ralph Lauren Trading Up 0.8 %

Shares of RL stock opened at $102.87 on Monday. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 3.09 and a beta of 1.33. The company has a quick ratio of 1.27, a current ratio of 2.01 and a debt-to-equity ratio of 0.65. Ralph Lauren Co. has a fifty-two week low of $82.23 and a fifty-two week high of $135.99. The firm’s 50 day moving average price is $93.03 and its two-hundred day moving average price is $94.76.

Ralph Lauren (NYSE:RLGet Rating) last announced its quarterly earnings results on Thursday, November 10th. The textile maker reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.15. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Ralph Lauren had a net margin of 8.05% and a return on equity of 21.97%. Ralph Lauren’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.62 earnings per share. On average, analysts anticipate that Ralph Lauren Co. will post 7.74 EPS for the current year.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.92%. Ralph Lauren’s dividend payout ratio is currently 41.78%.

Ralph Lauren Company Profile

(Get Rating)

Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed products. 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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Institutional Ownership by Quarter for Ralph Lauren (NYSE:RL)

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