Quadrature Capital Ltd reduced its holdings in shares of Ralph Lauren Co. (NYSE:RL – Get Rating) by 40.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,123 shares of the textile maker’s stock after selling 2,140 shares during the quarter. Quadrature Capital Ltd’s holdings in Ralph Lauren were worth $265,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in RL. Quantamental Technologies LLC acquired a new stake in Ralph Lauren during the 3rd quarter valued at $387,000. First Trust Advisors LP grew its position in Ralph Lauren by 31.1% in the third quarter. First Trust Advisors LP now owns 85,944 shares of the textile maker’s stock valued at $7,299,000 after acquiring an additional 20,377 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ralph Lauren by 9.1% during the third quarter. Bank of New York Mellon Corp now owns 625,117 shares of the textile maker’s stock worth $53,092,000 after purchasing an additional 52,072 shares during the last quarter. Bayesian Capital Management LP grew its holdings in shares of Ralph Lauren by 65.5% during the third quarter. Bayesian Capital Management LP now owns 5,985 shares of the textile maker’s stock worth $508,000 after purchasing an additional 2,369 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Ralph Lauren by 18.3% during the third quarter. BlackRock Inc. now owns 5,918,601 shares of the textile maker’s stock worth $502,667,000 after purchasing an additional 916,317 shares during the last quarter. 66.09% of the stock is owned by institutional investors.
In other news, CEO Patrice Louvet sold 18,500 shares of the company’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $120.00, for a total transaction of $2,220,000.00. Following the transaction, the chief executive officer now owns 220,832 shares of the company’s stock, valued at approximately $26,499,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 36.56% of the company’s stock.
Ralph Lauren Stock Down 2.3 %
Ralph Lauren (NYSE:RL – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The textile maker reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.44. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ralph Lauren had a return on equity of 22.88% and a net margin of 8.01%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.94 EPS. Analysts forecast that Ralph Lauren Co. will post 8.11 earnings per share for the current year.
Ralph Lauren Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.71%. Ralph Lauren’s dividend payout ratio is presently 40.27%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. StockNews.com upgraded Ralph Lauren from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Bank of America raised Ralph Lauren from a “neutral” rating to a “buy” rating and boosted their price target for the company from $130.00 to $145.00 in a research note on Monday, February 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $140.00 price target on shares of Ralph Lauren in a research note on Thursday, February 9th. JPMorgan Chase & Co. boosted their price target on Ralph Lauren from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 29th. Finally, Barclays raised Ralph Lauren from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $101.00 to $134.00 in a research note on Friday, January 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.86.
Ralph Lauren Company 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 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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