Sumitomo Mitsui Trust Holdings Inc. reduced its equity stake in Ralph Lauren Co. (NYSE: RL – Get a rating) by 12.8% in the 1st quarter, HoldingsChannel.com reports. The company held 7,141 shares of the textile maker after selling 1,044 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Ralph Lauren were worth $810,000 at the end of the last reporting period.
Other institutional investors have also recently changed their positions in the company. CWM LLC increased its position in Ralph Lauren shares by 127.7% during the first quarter. CWM LLC now owns 230 shares of the textile maker worth $26,000 after buying 129 additional shares last quarter. US Asset Management LLC purchased a new stake in Ralph Lauren stock during the first quarter worth approximately $35,000. Daiwa Securities Group Inc. increased its position in Ralph Lauren shares by 38.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker worth $54,000 after buying 125 additional shares in the last quarter. Covestor Ltd purchased a new stake in shares of Ralph Lauren during the fourth quarter worth approximately $57,000. Finally, IndexIQ Advisors LLC purchased a new stake in Ralph Lauren stock during the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 99.89% of the company’s shares.
Changes to analyst ratings
RL has been the subject of several research analyst reports. Cowen cut its price target on Ralph Lauren from $171.00 to $151.00 and set an “outperform” rating for the company in a Wednesday, June 1 report. Deutsche Bank Aktiengesellschaft cut its price target on Ralph Lauren from $116.00 to $101.00 in a Wednesday, May 25 report. Citigroup downgraded Ralph Lauren from a “buy” rating to a “neutral” rating and lowered its price target for the company from $140.00 to $98.00 in a Monday, May 23 report. UBS Group reduced its price target on Ralph Lauren from $162.00 to $129.00 in a Friday, July 15 report. Finally, Telsey Advisory Group cut its price target on Ralph Lauren from $160.00 to $140.00 and set an “outperform” rating for the company in a Wednesday, May 25 report. One financial analyst has assigned the stock a sell rating, six have issued a hold rating and nine have assigned the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “moderate buy” and an average target price of $121.93.
Ralph Lauren Price Performance
Shares of Action RL opened at $98.22 on Friday. Ralph Lauren Co. has a 52-week low of $86.54 and a 52-week high of $135.99. The company has a debt ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.87. The company has a market capitalization of $6.88 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.30 and a beta of 1.38. The stock has a 50-day moving average price of $95.48 and a 200-day moving average price of $107.78.
Ralph Lauren (NYSE: RL – Get a rating) last released its quarterly results on Tuesday, May 24. The textile maker reported earnings per share (EPS) of $0.49 for the quarter, beating consensus analyst estimates of $0.30 by $0.19. Ralph Lauren had a return on equity of 23.00% and a net margin of 9.65%. The company posted revenue of $1.53 billion in the quarter, versus analyst estimates of $1.46 billion. During the same period last year, the company achieved EPS of $0.38. Ralph Lauren’s quarterly revenue increased 18.7% compared to the same quarter last year. As a group, sell-side analysts expect Ralph Lauren Co. to post earnings per share of 8.33 for the current year.
Ralph Lauren increases its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Investors of record on Friday July 1 received a dividend of $0.75 per share. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.69. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, June 30. Ralph Lauren’s dividend payout ratio (DPR) is currently 37.41%.
Ralph Lauren Company Profile
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The company offers clothing, including a range of clothing for men, women and children; footwear and accessories, which include casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods and belts; home products comprised of bed and bath lines, furniture, fabrics and wall coverings, lighting, table tops, kitchen linens, flooring and giftware; and perfumes.
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