Meeder Asset Management Inc. increases its position in Ralph Lauren Co. (NYSE:RL)



Meeder Asset Management Inc. increased its holdings in Ralph Lauren Co. (NYSE: RL – Get Rating) by 371.9% in the first quarter, according to its latest SEC filing. The institutional investor held 2,383 shares of the textile maker after buying an additional 1,878 shares during the period. Meeder Asset Management Inc.’s holdings in Ralph Lauren were worth $270,000 when it last filed with the SEC.

A number of other institutional investors and hedge funds have also recently changed their positions in the company. CWM LLC increased its position in Ralph Lauren by 127.7% during the first quarter. CWM LLC now owns 230 shares of the textile maker valued at $26,000 after buying an additional 129 shares last quarter. US Asset Management LLC bought a new position in Ralph Lauren stock in the first quarter for a value of around $35,000. Daiwa Securities Group Inc. increased its equity stake in Ralph Lauren by 38.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker worth $54,000 after buying an additional 125 shares during the period. Covestor Ltd bought a new position in shares of Ralph Lauren in the fourth quarter worth approximately $57,000. Finally, IndexIQ Advisors LLC bought a new position in Ralph Lauren stock in the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 99.89% of the company’s shares.

A Wall Street analyst gives his opinion

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered its price target on Ralph Lauren from $101.00 to $99.00 and set a “hold” rating on the stock in a Monday, August 1 report. Goldman Sachs Group cut its price target on Ralph Lauren from $85.00 to $78.00 and set a “sell” rating on the stock in a Thursday July 21 research note. Wells Fargo & Company reduced its price target on Ralph Lauren to $95.00 in a Wednesday, May 25 research note. Citigroup downgraded Ralph Lauren from a “buy” rating to a “neutral” rating and reduced its target price for the stock from $140.00 to $98.00 in a Monday, May 23 research note. Finally, Cowen cut his target price on Ralph Lauren from $142.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday. One analyst assigned the stock a sell rating, six issued a hold rating and seven issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $118.92.

Ralph Lauren Price Performance

RL stock opened at $98.06 on Friday. The company has a 50-day moving average price of $94.89 and a 200-day moving average price of $105.29. Ralph Lauren Co. has a 52-week low of $86.54 and a 52-week high of $135.99. The company has a market capitalization of $6.87 billion, a price/earnings ratio of 12.95, a PEG ratio of 4.13 and a beta of 1.37. The company has a debt ratio of 0.62, a quick ratio of 1.37 and a current ratio of 2.05.

Ralph Lauren (NYSE:RL – Get Rating) last released its results on Tuesday, May 24. The textile maker reported earnings per share (EPS) of $0.49 for the quarter, beating the consensus estimate of $0.30 by $0.19. Ralph Lauren had a net margin of 8.82% and a return on equity of 22.33%. The company posted revenue of $1.53 billion in the quarter, versus analyst estimates of $1.46 billion. In the same period last year, the company earned $0.38 per share. The company’s revenue increased 18.7% year over year. Equity research analysts expect Ralph Lauren Co. to post EPS of 7.89 for the current fiscal year.

Ralph Lauren increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Investors of record on Friday July 1 received a dividend of $0.75. 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 yield of 3.06%. The ex-dividend date was Thursday, June 30. Ralph Lauren’s payout ratio is currently 39.63%.

Ralph Lauren Company Profile

(Get a rating)

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.

Further reading

Want to see what other hedge funds hold RL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Ralph Lauren Co. (NYSE:RL – Get Rating).

Institutional ownership by quarter for Ralph Lauren (NYSE:RL)



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