Ralph Lauren Corp. (RL) Stake Raised by Teacher Retirement System of Texas
Teacher Retirement System of Texas raised its position in Ralph Lauren Corp. (NYSE:RL) by 31.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,195 shares of the company’s stock after buying an additional 992 shares during the period. Teacher Retirement System of Texas’ holdings in Ralph Lauren Corp. were worth $376,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Ralph Lauren Corp. by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,036,266 shares of the company’s stock worth $196,010,000 after buying an additional 171,109 shares in the last quarter. Strs Ohio raised its stake in Ralph Lauren Corp. by 17.1% in the second quarter. Strs Ohio now owns 505,000 shares of the company’s stock valued at $45,258,000 after buying an additional 73,830 shares in the last quarter. Geode Capital Management LLC raised its stake in Ralph Lauren Corp. by 3.8% in the first quarter. Geode Capital Management LLC now owns 498,550 shares of the company’s stock valued at $47,896,000 after buying an additional 18,350 shares in the last quarter. PGGM Investments raised its stake in Ralph Lauren Corp. by 33.4% in the second quarter. PGGM Investments now owns 361,894 shares of the company’s stock valued at $32,433,000 after buying an additional 90,566 shares in the last quarter. Finally, Prudential PLC raised its stake in Ralph Lauren Corp. by 30.2% in the first quarter. Prudential PLC now owns 72,869 shares of the company’s stock valued at $7,014,000 after buying an additional 16,888 shares in the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. (NYSE:RL) opened at 104.07 on Tuesday. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 28.44 and a beta of 1.17. Ralph Lauren Corp. has a 1-year low of $82.15 and a 1-year high of $137.38. The stock has a 50 day moving average price of $102.06 and a 200-day moving average price of $96.86.
Ralph Lauren Corp. (NYSE:RL) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The firm earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Ralph Lauren Corp. will post $5.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. Ralph Lauren Corp.’s dividend payout ratio is presently 55.25%.
Several research firms recently weighed in on RL. Vetr lowered Ralph Lauren Corp. from a “hold” rating to a “sell” rating and set a $99.66 price target on the stock. in a research report on Monday. Goldman Sachs Group Inc. upgraded Ralph Lauren Corp. from a “buy” rating to a “conviction-buy” rating and set a $120.00 price target on the stock in a research report on Friday. Guggenheim began coverage on Ralph Lauren Corp. in a research report on Friday, September 30th. They set a “neutral” rating on the stock. Credit Agricole SA began coverage on Ralph Lauren Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Macquarie lifted their price target on Ralph Lauren Corp. from $119.00 to $121.00 and gave the company an “outperform” rating in a research report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $110.63.
About Ralph Lauren Corp.
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 through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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