CI Investments Inc. Cuts Stock Holdings in Ralph Lauren Co. (NYSE:RL)

CI Investments Inc. lowered its stake in Ralph Lauren Co. (NYSE:RL – Get Rating) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001 shares of the textile maker’s stock after selling 170 shares during the quarter. CI Investments Inc.’s holdings in Ralph Lauren were worth $106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RL. Advisor Group Holdings Inc. boosted its holdings in Ralph Lauren by 40.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,225 shares of the textile maker’s stock worth $366,000 after purchasing an additional 930 shares during the last quarter. Raymond James & Associates boosted its holdings in Ralph Lauren by 451.8% in the first quarter. Raymond James & Associates now owns 21,696 shares of the textile maker’s stock worth $2,461,000 after purchasing an additional 17,764 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ralph Lauren by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,048 shares of the textile maker’s stock worth $233,000 after purchasing an additional 379 shares during the last quarter. MetLife Investment Management LLC raised its position in Ralph Lauren by 16.8% in the first quarter. MetLife Investment Management LLC now owns 12,575 shares of the textile maker’s stock worth $1,427,000 after acquiring an additional 1,808 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Ralph Lauren by 6.1% in the first quarter. Great West Life Assurance Co. Can now owns 10,892 shares of the textile maker’s stock worth $1,283,000 after acquiring an additional 623 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Ralph Lauren Stock Performance

Shares of NYSE:RL opened at $114.00 on Friday. Ralph Lauren Co. has a 52 week low of $82.23 and a 52 week high of $128.94. The stock has a market capitalization of $7.52 billion, a P/E ratio of 15.30, a PEG ratio of 1.27 and a beta of 1.39. The firm has a fifty day simple moving average of $113.62 and a two-hundred day simple moving average of $113.26. The company has a quick ratio of 1.37, a current ratio of 2.08 and a debt-to-equity ratio of 0.59.

Ralph Lauren (NYSE:RL – Get Rating) last released its quarterly earnings results on Thursday, May 25th. The textile maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.25. Ralph Lauren had a net margin of 8.01% and a return on equity of 22.88%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts expect that Ralph Lauren Co. will post 8.12 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, March 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.63%. Ralph Lauren’s dividend payout ratio is presently 40.27%.

Analyst Ratings Changes

RL has been the topic of several recent research reports. Credit Suisse Group increased their price target on shares of Ralph Lauren from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. UBS Group decreased their price objective on shares of Ralph Lauren from $157.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. Bank of America upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and raised their price objective for the company from $130.00 to $145.00 in a research report on Monday, February 13th. BMO Capital Markets downgraded shares of Ralph Lauren from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $96.00 to $100.00 in a research report on Friday, January 27th. Finally, Citigroup raised their price objective on shares of Ralph Lauren from $92.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.00.

About Ralph Lauren

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Ralph Lauren Corp. engages in the design, marketing, and distribution of luxury lifestyle products, including apparel, footwear and accessories, home, fragrances, and hospitality categories. The firm offers products under the brands of Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps.