American Century Companies Inc. lowered its holdings in shares of Ralph Lauren Co. (NYSE:RL – Free Report) by 20.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,131 shares of the textile maker’s stock after selling 39,439 shares during the quarter. American Century Companies Inc. owned approximately 0.23% of Ralph Lauren worth $17,970,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in shares of Ralph Lauren by 1,687.4% during the first quarter. Envestnet Asset Management Inc. now owns 269,999 shares of the textile maker’s stock valued at $1,829,000 after buying an additional 254,893 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Ralph Lauren in the 1st quarter worth $375,000. AMG National Trust Bank boosted its holdings in shares of Ralph Lauren by 9.1% during the 1st quarter. AMG National Trust Bank now owns 11,184 shares of the textile maker’s stock valued at $1,305,000 after purchasing an additional 936 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Ralph Lauren by 7.0% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 7,202 shares of the textile maker’s stock valued at $840,000 after purchasing an additional 474 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of Ralph Lauren in the first quarter worth about $1,125,000. Institutional investors own 67.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Wedbush reissued a “neutral” rating and set a $125.00 price target on shares of Ralph Lauren in a research note on Friday, August 11th. Barclays boosted their target price on shares of Ralph Lauren from $139.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. StockNews.com lowered Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. TD Cowen lowered their price objective on Ralph Lauren from $150.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. Finally, UBS Group lifted their target price on Ralph Lauren from $168.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $134.00.
Ralph Lauren Stock Up 0.4 %
Shares of NYSE:RL opened at $116.63 on Friday. Ralph Lauren Co. has a 52-week low of $82.23 and a 52-week high of $135.76. The company has a quick ratio of 1.43, a current ratio of 2.18 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.61 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. The business’s 50 day moving average is $123.61 and its 200 day moving average is $118.24.
Ralph Lauren (NYSE:RL – Get Free Report) last issued its quarterly earnings results on Thursday, August 10th. The textile maker reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.19. Ralph Lauren had a net margin of 8.24% and a return on equity of 24.97%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.88 EPS. Ralph Lauren’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts predict that Ralph Lauren Co. will post 9.48 EPS for the current year.
Ralph Lauren Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $3.00 annualized dividend and a yield of 2.57%. Ralph Lauren’s payout ratio is presently 38.36%.
Insider Transactions at Ralph Lauren
In other Ralph Lauren news, CEO Patrice Louvet sold 9,272 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $125.00, for a total transaction of $1,159,000.00. Following the completion of the transaction, the chief executive officer now directly owns 193,060 shares of the company’s stock, valued at approximately $24,132,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.09% of the company’s stock.
Ralph Lauren Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise 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 consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.
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