Crossmark Global Holdings Inc. lowered its stake in Ralph Lauren Corp (NYSE:RL) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,469 shares of the textile maker’s stock after selling 200 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ralph Lauren were worth $839,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Ralph Lauren during the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund increased its stake in shares of Ralph Lauren by 11,845.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock valued at $26,000 after buying an additional 2,703,760 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Ralph Lauren by 44.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 299 shares of the textile maker’s stock valued at $31,000 after buying an additional 92 shares during the period. Liberty Wealth Management LLC purchased a new position in shares of Ralph Lauren during the fourth quarter valued at approximately $33,000. Finally, CSat Investment Advisory L.P. increased its stake in shares of Ralph Lauren by 97.3% during the fourth quarter. CSat Investment Advisory L.P. now owns 436 shares of the textile maker’s stock valued at $45,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 65.84% of the company’s stock.
In other news, Director Joyce F. Brown sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total value of $252,000.00. Following the sale, the director now directly owns 7,278 shares of the company’s stock, valued at $917,028. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 32.49% of the company’s stock.
Several brokerages recently weighed in on RL. Bank of America reduced their price target on Ralph Lauren from $114.00 to $108.00 and set an “underperform” rating on the stock in a research note on Wednesday. Nomura reduced their price target on Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday. Deutsche Bank reduced their price target on Ralph Lauren from $160.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Ralph Lauren in a research note on Wednesday. Finally, Royal Bank of Canada raised Ralph Lauren from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $145.00 in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $137.47.
NYSE RL opened at $115.68 on Thursday. Ralph Lauren Corp has a 12 month low of $95.63 and a 12 month high of $147.79. The firm has a market capitalization of $9.30 billion, a PE ratio of 19.18, a P/E/G ratio of 1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 2.90.
Ralph Lauren (NYSE:RL) last released its earnings results on Tuesday, May 14th. The textile maker reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Ralph Lauren had a return on equity of 16.85% and a net margin of 6.95%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Ralph Lauren Corp will post 7.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.6875 dividend. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.63. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, June 27th. Ralph Lauren’s dividend payout ratio is currently 41.46%.
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Ralph Lauren Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
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