Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Ralph Lauren Co. (NYSE:RL – Get Rating) by 41.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,596 shares of the textile maker’s stock after selling 5,381 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ralph Lauren were worth $681,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of RL. Texas Permanent School Fund increased its position in shares of Ralph Lauren by 1.8% during the 2nd quarter. Texas Permanent School Fund now owns 6,113 shares of the textile maker’s stock valued at $548,000 after purchasing an additional 109 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Ralph Lauren by 1.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,643 shares of the textile maker’s stock valued at $595,000 after purchasing an additional 125 shares during the last quarter. Norinchukin Bank The increased its position in shares of Ralph Lauren by 4.4% during the 1st quarter. Norinchukin Bank The now owns 4,354 shares of the textile maker’s stock valued at $494,000 after purchasing an additional 183 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Ralph Lauren by 6.7% during the 1st quarter. Wellington Management Group LLP now owns 3,086 shares of the textile maker’s stock valued at $350,000 after purchasing an additional 194 shares during the last quarter. Finally, Keene & Associates Inc. increased its position in shares of Ralph Lauren by 9.3% during the 2nd quarter. Keene & Associates Inc. now owns 2,361 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 63.02% of the company’s stock.
Analyst Ratings Changes
RL has been the subject of several analyst reports. Wedbush increased their target price on shares of Ralph Lauren to $100.00 in a report on Wednesday, November 16th. Cowen lifted their price target on Ralph Lauren from $128.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Ralph Lauren from $101.00 to $99.00 and set a “hold” rating for the company in a research report on Monday, August 1st. Credit Suisse Group lowered their price target on Ralph Lauren from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. dropped their target price on Ralph Lauren from $133.00 to $131.00 in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $115.85.
Ralph Lauren Stock Down 1.7 %
Ralph Lauren (NYSE:RL – Get Rating) last posted its quarterly earnings results on Thursday, November 10th. The textile maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.15. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Ralph Lauren had a return on equity of 21.97% and a net margin of 8.05%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.62 EPS. Sell-side analysts predict that Ralph Lauren Co. will post 7.74 EPS for the current fiscal year.
Ralph Lauren Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.00 annualized dividend and a dividend yield of 2.97%. Ralph Lauren’s dividend payout ratio is presently 41.78%.
Ralph Lauren 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 products. 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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