World Asset Management Inc Decreases Position in Ralph Lauren Corporation (NYSE:RL)
World Asset Management Inc decreased its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,501 shares of the textile maker’s stock after selling 807 shares during the period. World Asset Management Inc’s holdings in Ralph Lauren Corporation were worth $406,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Ralph Lauren Corporation by 9.5% in the first quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock valued at $465,959,000 after buying an additional 495,685 shares during the period. BlackRock Inc. raised its position in shares of Ralph Lauren Corporation by 3,678.8% in the first quarter. BlackRock Inc. now owns 4,583,697 shares of the textile maker’s stock valued at $374,123,000 after buying an additional 4,462,396 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ralph Lauren Corporation by 113.7% in the first quarter. JPMorgan Chase & Co. now owns 2,469,782 shares of the textile maker’s stock valued at $201,582,000 after buying an additional 1,314,237 shares during the period. American Century Companies Inc. raised its position in shares of Ralph Lauren Corporation by 25.3% in the first quarter. American Century Companies Inc. now owns 1,284,223 shares of the textile maker’s stock valued at $104,818,000 after buying an additional 259,566 shares during the period. Finally, International Value Advisers LLC purchased a new position in shares of Ralph Lauren Corporation during the first quarter valued at about $82,868,000. 58.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ralph Lauren Corporation (NYSE:RL) opened at 83.78 on Friday. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The firm’s market cap is $6.84 billion. The stock’s 50 day moving average price is $75.13 and its 200-day moving average price is $77.11.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, analysts forecast that Ralph Lauren Corporation will post $5.18 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio (DPR) is currently -869.57%.
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Several equities analysts have recently issued reports on RL shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $75.00 price target (down previously from $84.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. Zacks Investment Research raised Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $66.00 price target on shares of Ralph Lauren Corporation in a research note on Friday, July 14th. Atlantic Securities raised Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and upped their price target for the company from $68.00 to $93.00 in a research note on Wednesday. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $74.00 price target (down previously from $78.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.56.
About Ralph Lauren Corporation
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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