Northwestern Mutual Investment Management Company LLC reduced its position in Ralph Lauren Corp (NYSE:RL) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,014 shares of the textile maker’s stock after selling 235 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Ralph Lauren were worth $1,039,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RL. Oregon Public Employees Retirement Fund increased its stake in Ralph Lauren by 11,845.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 2,703,760 shares in the last quarter. Norges Bank purchased a new position in Ralph Lauren during the fourth quarter worth $72,636,000. MERIAN GLOBAL INVESTORS UK Ltd increased its position in Ralph Lauren by 181.1% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 826,620 shares of the textile maker’s stock worth $85,522,000 after buying an additional 532,519 shares in the last quarter. Highbridge Capital Management LLC increased its position in Ralph Lauren by 165.4% during the fourth quarter. Highbridge Capital Management LLC now owns 98,100 shares of the textile maker’s stock worth $10,149,000 after buying an additional 248,100 shares in the last quarter. Finally, BlackRock Inc. increased its position in Ralph Lauren by 5.1% during the fourth quarter. BlackRock Inc. now owns 4,137,377 shares of the textile maker’s stock worth $428,052,000 after buying an additional 200,314 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.
Shares of RL stock traded up $0.49 during mid-day trading on Friday, hitting $113.59. 895,099 shares of the company’s stock were exchanged, compared to its average volume of 1,029,885. Ralph Lauren Corp has a fifty-two week low of $95.63 and a fifty-two week high of $147.79. The company has a 50-day simple moving average of $112.72. The company has a current ratio of 3.00, a quick ratio of 2.31 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $8.96 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.46 and a beta of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.6875 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.75 dividend on an annualized basis and a yield of 2.42%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.63. Ralph Lauren’s dividend payout ratio (DPR) is presently 34.77%.
In related news, major shareholder Family L.L.C. Lauren sold 71,428 shares of Ralph Lauren stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $105.23, for a total value of $7,516,368.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 214,284 shares of company stock worth $23,600,525 in the last quarter. 32.49% of the stock is owned by insiders.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Bank of America dropped their price target on Ralph Lauren from $114.00 to $108.00 and set an “underperform” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group reissued an “outperform” rating and set a $155.00 price target on shares of Ralph Lauren in a research report on Wednesday, May 15th. Nomura dropped their price target on Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Finally, TheStreet downgraded Ralph Lauren from a “b” rating to a “c+” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $136.40.
Ralph Lauren Company 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 product. 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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