Ralph Lauren Corp. (RL) Trading Down 4.4%
Ralph Lauren Corp. (NYSE:RL) shares fell 4.4% on Tuesday . The company traded as low as $93.29 and last traded at $93.40, with a volume of 1,182,274 shares. The stock had previously closed at $97.68.
A number of brokerages recently weighed in on RL. Piper Jaffray Cos. reaffirmed a “hold” rating on shares of Ralph Lauren Corp. in a report on Monday, June 13th. Vetr raised Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 target price on the stock in a report on Monday, June 27th. Miller Tabak lowered Ralph Lauren Corp. from a “buy” rating to a “hold” rating and set a $115.00 target price on the stock. in a report on Wednesday, June 8th. Telsey Advisory Group lowered their target price on Ralph Lauren Corp. from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, June 8th. Finally, Morgan Stanley reissued a “hold” rating on shares of Ralph Lauren Corp. in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $109.20.
The stock’s 50 day moving average price is $95.22 and its 200-day moving average price is $94.92. The company has a market capitalization of $7.74 billion and a price-to-earnings ratio of 20.22.
Ralph Lauren Corp. (NYSE:RL) last issued its earnings results on Thursday, May 12th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. The company earned $1.90 billion during the quarter, compared to analyst estimates of $1.86 billion. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities research analysts expect that Ralph Lauren Corp. will post $5.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were given a $0.50 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%.
In other news, Director Joel Lawrence Fleishman sold 811 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $95.91, for a total value of $77,783.01. Following the completion of the sale, the director now owns 18,763 shares of the company’s stock, valued at $1,799,559.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David R. Lauren sold 4,668 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $93.71, for a total value of $437,438.28. Following the completion of the sale, the executive vice president now directly owns 15,593 shares of the company’s stock, valued at approximately $1,461,220.03. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Ralph Lauren Corp. by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,978,955 shares of the company’s stock worth $555,054,000 after buying an additional 77,635 shares during the last quarter. Morgan Stanley boosted its stake in Ralph Lauren Corp. by 58.7% in the fourth quarter. Morgan Stanley now owns 187,870 shares of the company’s stock worth $20,943,000 after buying an additional 69,519 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in Ralph Lauren Corp. by 92.9% in the fourth quarter. I.G. Investment Management LTD. now owns 73,300 shares of the company’s stock worth $8,171,000 after buying an additional 35,300 shares during the last quarter. Royce & Associates LLC boosted its stake in Ralph Lauren Corp. by 1,360.0% in the fourth quarter. Royce & Associates LLC now owns 36,500 shares of the company’s stock worth $4,069,000 after buying an additional 34,000 shares during the last quarter. Finally, Boston Partners purchased a new stake in Ralph Lauren Corp. during the fourth quarter worth about $3,790,000.
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 in three segments: Wholesale, Retail and Licensing. Wholesale business, representing approximately 46% of net revenues as of fiscal year ended March 28, 2015 (Fiscal 2015), consists of sales made to department stores and specialty stores around the world.
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