Ontario Teachers Pension Plan Board lessened its position in shares of Ralph Lauren Corp (NYSE:RL) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,077 shares of the textile maker’s stock after selling 4,987 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.06% of Ralph Lauren worth $6,044,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Scout Investments Inc. acquired a new position in Ralph Lauren in the 2nd quarter worth about $16,291,000. NN Investment Partners Holdings N.V. raised its holdings in shares of Ralph Lauren by 25.9% during the second quarter. NN Investment Partners Holdings N.V. now owns 10,068 shares of the textile maker’s stock valued at $1,266,000 after acquiring an additional 2,068 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ralph Lauren during the second quarter valued at approximately $381,000. Sei Investments Co. raised its holdings in shares of Ralph Lauren by 0.6% during the second quarter. Sei Investments Co. now owns 331,860 shares of the textile maker’s stock valued at $41,721,000 after acquiring an additional 2,067 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Ralph Lauren by 25.8% during the second quarter. Wells Fargo & Company MN now owns 341,099 shares of the textile maker’s stock valued at $42,882,000 after acquiring an additional 69,891 shares during the last quarter. Institutional investors and hedge funds own 70.79% of the company’s stock.
Shares of NYSE RL traded down $1.53 during mid-day trading on Friday, hitting $131.74. The company had a trading volume of 693,544 shares, compared to its average volume of 841,794. The stock has a market cap of $10.90 billion, a P/E ratio of 21.85, a PEG ratio of 2.12 and a beta of 0.66. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.08. Ralph Lauren Corp has a 1-year low of $83.26 and a 1-year high of $147.79.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.90%. Ralph Lauren’s dividend payout ratio is presently 41.46%.
In other Ralph Lauren news, Director Michael A. George purchased 1,815 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were bought at an average cost of $137.72 per share, for a total transaction of $249,961.80. Following the completion of the purchase, the director now directly owns 2,897 shares in the company, valued at $398,974.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.49% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada set a $140.00 price target on Ralph Lauren and gave the company a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded Ralph Lauren from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Tuesday, May 22nd. Bank of America upped their price target on Ralph Lauren from $113.00 to $117.00 and gave the company a “sell” rating in a research report on Wednesday, August 1st. Credit Suisse Group increased their price objective on Ralph Lauren from $153.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Finally, Barclays increased their price objective on Ralph Lauren from $114.00 to $118.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 1st. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $132.93.
About Ralph Lauren
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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