Quantitative Systematic Strategies LLC Purchases Shares of 2,526 Ralph Lauren Corp. (RL)
Quantitative Systematic Strategies LLC acquired a new stake in Ralph Lauren Corp. (NYSE:RL) during the second quarter, Holdings Channel reports. The fund acquired 2,526 shares of the company’s stock, valued at approximately $224,000.
Several other institutional investors have also modified their holdings of RL. Pacad Investment Ltd. acquired a new position in shares of Ralph Lauren Corp. during the first quarter valued at $221,000. Teachers Advisors Inc. boosted its position in shares of Ralph Lauren Corp. by 80.3% in the first quarter. Teachers Advisors Inc. now owns 165,644 shares of the company’s stock valued at $15,945,000 after buying an additional 73,794 shares during the period. Prudential Financial Inc. boosted its position in shares of Ralph Lauren Corp. by 123.2% in the first quarter. Prudential Financial Inc. now owns 167,476 shares of the company’s stock valued at $16,122,000 after buying an additional 92,440 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Ralph Lauren Corp. by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,701,295 shares of the company’s stock valued at $163,767,000 after buying an additional 161,047 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Ralph Lauren Corp. during the first quarter valued at $1,448,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. (NYSE:RL) traded down 2.18% during mid-day trading on Friday, hitting $97.52. The company had a trading volume of 1,157,066 shares. The company has a market capitalization of $8.02 billion, a P/E ratio of 26.65 and a beta of 1.17. The company has a 50-day moving average price of $101.18 and a 200 day moving average price of $96.96. Ralph Lauren Corp. has a 52-week low of $82.15 and a 52-week high of $137.38.
Ralph Lauren Corp. (NYSE:RL) last issued its earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. On average, analysts forecast that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, September 28th. Ralph Lauren Corp.’s payout ratio is currently 55.25%.
Several equities analysts have recently weighed in on RL shares. Cowen and Company reiterated a “market perform” rating and issued a $98.00 price objective on shares of Ralph Lauren Corp. in a research note on Wednesday, June 22nd. Vetr upgraded shares of Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 target price on the stock in a research note on Monday, June 27th. Piper Jaffray Cos. restated a “neutral” rating and set a $88.00 target price on shares of Ralph Lauren Corp. in a research note on Monday, August 8th. Deutsche Bank AG restated a “hold” rating and set a $95.00 target price (up previously from $85.00) on shares of Ralph Lauren Corp. in a research note on Wednesday, August 10th. Finally, Telsey Advisory Group raised their target price on shares of Ralph Lauren Corp. from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $110.63.
Ralph Lauren Corp. Company Profile
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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