Swiss National Bank lessened its holdings in shares of Ralph Lauren Co. (NYSE:RL – Get Rating) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 109,100 shares of the textile maker’s stock after selling 6,100 shares during the period. Swiss National Bank’s holdings in Ralph Lauren were worth $9,781,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in RL. New York State Teachers Retirement System boosted its holdings in Ralph Lauren by 10.8% in the second quarter. New York State Teachers Retirement System now owns 63,762 shares of the textile maker’s stock valued at $5,716,000 after acquiring an additional 6,215 shares during the last quarter. Smith Group Asset Management LLC bought a new position in Ralph Lauren in the first quarter valued at about $22,318,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Ralph Lauren by 27.4% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,046 shares of the textile maker’s stock valued at $1,528,000 after acquiring an additional 3,664 shares during the last quarter. Willis Investment Counsel boosted its holdings in Ralph Lauren by 0.8% in the second quarter. Willis Investment Counsel now owns 125,460 shares of the textile maker’s stock valued at $11,247,000 after acquiring an additional 1,031 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Ralph Lauren by 3.5% in the first quarter. ProShare Advisors LLC now owns 22,576 shares of the textile maker’s stock valued at $2,562,000 after acquiring an additional 762 shares during the last quarter. Institutional investors own 63.02% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on RL shares. Deutsche Bank Aktiengesellschaft decreased their price target on Ralph Lauren from $101.00 to $99.00 and set a “hold” rating on the stock in a report on Monday, August 1st. TheStreet upgraded Ralph Lauren from a “c+” rating to a “b-” rating in a report on Monday, November 7th. Wedbush raised their target price on Ralph Lauren to $100.00 in a report on Wednesday, November 16th. Cowen raised their target price on Ralph Lauren from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 11th. Finally, Citigroup reduced their target price on Ralph Lauren from $96.00 to $92.00 in a report on Friday, November 4th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $115.85.
Ralph Lauren Trading Up 0.8 %
Ralph Lauren (NYSE:RL – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The textile maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.15. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Ralph Lauren had a return on equity of 21.97% and a net margin of 8.05%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $2.62 EPS. As a group, research analysts anticipate that Ralph Lauren Co. will post 7.74 EPS for the current fiscal year.
Ralph Lauren Announces Dividend
The firm also recently declared 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 was Thursday, September 29th. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. Ralph Lauren’s dividend payout ratio is currently 41.78%.
About Ralph Lauren
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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