IBM Retirement Fund lowered its position in Ralph Lauren Corp. (NYSE:RL) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,766 shares of the company’s stock after selling 227 shares during the period. IBM Retirement Fund’s holdings in Ralph Lauren Corp. were worth $517,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Kazazian Asset Management LLC purchased a new stake in Ralph Lauren Corp. during the first quarter worth $111,000. Trust Department MB Financial Bank N A increased its stake in Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock worth $149,000 after buying an additional 1,002 shares in the last quarter. Exane Derivatives increased its stake in Ralph Lauren Corp. by 15.8% in the first quarter. Exane Derivatives now owns 1,583 shares of the company’s stock worth $152,000 after buying an additional 216 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Ralph Lauren Corp. during the first quarter worth $221,000. Finally, First Republic Investment Management Inc. purchased a new stake in Ralph Lauren Corp. during the first quarter worth $517,000. 63.74% of the stock is owned by institutional investors.
Shares of Ralph Lauren Corp. (NYSE:RL) traded up 0.95% during trading on Friday, reaching $99.91. The company’s stock had a trading volume of 740,633 shares. Ralph Lauren Corp. has a 52-week low of $82.15 and a 52-week high of $137.38. The stock’s 50 day moving average price is $103.43 and its 200-day moving average price is $96.63. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 27.31 and a beta of 1.11.
Ralph Lauren Corp. (NYSE:RL) last released its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share 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 had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Ralph Lauren Corp. will post $5.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.00%. Ralph Lauren Corp.’s payout ratio is currently 55.25%.
A number of equities research analysts have recently weighed in on RL shares. Citigroup Inc. reissued a “buy” rating and set a $107.00 target price (up previously from $101.00) on shares of Ralph Lauren Corp. in a report on Wednesday, June 8th. Vetr downgraded Ralph Lauren Corp. from a “strong-buy” rating to a “buy” rating and set a $104.76 price target for the company. in a research note on Wednesday, June 8th. BB&T Corp. reaffirmed a “buy” rating and issued a $115.00 price target on shares of Ralph Lauren Corp. in a research note on Thursday, June 9th. Goldman Sachs Group Inc. boosted their price target on Ralph Lauren Corp. from $113.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research raised Ralph Lauren Corp. from a “sell” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Friday, August 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $110.09.
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 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.
Want to see what other hedge funds are holding RL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ralph Lauren Corp. (NYSE:RL).
Receive News & Ratings for Ralph Lauren Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ralph Lauren Corp. and related companies with MarketBeat.com's FREE daily email newsletter.