KG&L Capital Management LLC acquired a new position in Ralph Lauren Corp (NYSE:RL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,560 shares of the textile maker’s stock, valued at approximately $244,000.
A number of other hedge funds have also recently bought and sold shares of RL. Mackenzie Financial Corp boosted its holdings in Ralph Lauren by 105.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,188,995 shares of the textile maker’s stock worth $135,058,000 after buying an additional 611,058 shares during the last quarter. Marshall Wace LLP boosted its holdings in Ralph Lauren by 291.9% in the 1st quarter. Marshall Wace LLP now owns 735,437 shares of the textile maker’s stock worth $95,371,000 after buying an additional 547,787 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Ralph Lauren by 349.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 257,391 shares of the textile maker’s stock worth $29,237,000 after buying an additional 200,079 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in Ralph Lauren by 323.4% in the 1st quarter. Marshall Wace North America L.P. now owns 257,893 shares of the textile maker’s stock worth $33,444,000 after buying an additional 196,988 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Ralph Lauren by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 4,106,694 shares of the textile maker’s stock worth $466,479,000 after buying an additional 171,700 shares during the last quarter. Institutional investors own 65.75% of the company’s stock.
Several equities research analysts recently issued reports on RL shares. Goldman Sachs Group reiterated a “sell” rating on shares of Ralph Lauren in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut Ralph Lauren from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Piper Jaffray Companies set a $83.00 price objective on Ralph Lauren and gave the stock a “hold” rating in a report on Friday, August 16th. Credit Suisse Group lowered their price objective on Ralph Lauren from $158.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $128.00 price objective on Ralph Lauren and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $128.18.
Ralph Lauren (NYSE:RL) last issued its earnings results on Tuesday, July 30th. The textile maker reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Ralph Lauren had a return on equity of 18.33% and a net margin of 6.91%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. Research analysts forecast that Ralph Lauren Corp will post 7.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.688 per share. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.69. This represents a $2.75 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, September 26th. Ralph Lauren’s payout ratio is currently 38.25%.
In other news, major shareholder Family L.L.C. Lauren sold 35,714 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $85.06, for a total transaction of $3,037,832.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 357,140 shares of company stock worth $35,554,001. Insiders own 34.26% of the company’s stock.
Ralph Lauren Company Profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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