Northwestern Mutual Wealth Management Co. grew its stake in shares of Ralph Lauren Corp (NYSE:RL) by 31.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,999 shares of the textile maker’s stock after purchasing an additional 1,198 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ralph Lauren were worth $649,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Cigna Investments Inc. New purchased a new position in Ralph Lauren in the first quarter worth about $204,000. Commonwealth Bank of Australia increased its stake in Ralph Lauren by 2.1% in the 1st quarter. Commonwealth Bank of Australia now owns 14,796 shares of the textile maker’s stock worth $1,913,000 after acquiring an additional 300 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Ralph Lauren by 649.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 76,877 shares of the textile maker’s stock worth $9,970,000 after acquiring an additional 66,623 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ralph Lauren by 16.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,555 shares of the textile maker’s stock valued at $1,758,000 after purchasing an additional 1,901 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Ralph Lauren by 3,333.3% during the 1st quarter. Signaturefd LLC now owns 206 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on RL. OTR Global upgraded Ralph Lauren to a “positive” rating in a report on Friday, April 26th. Royal Bank of Canada upgraded Ralph Lauren from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $145.00 in a report on Thursday, May 9th. UBS Group upped their target price on Ralph Lauren from $127.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their target price on Ralph Lauren from $140.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Co raised Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $136.40.
Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Tuesday, May 14th. The textile maker reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.14. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Ralph Lauren had a return on equity of 17.38% and a net margin of 6.83%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. As a group, equities research analysts expect that Ralph Lauren Corp will post 7.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a yield of 2.42%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, June 27th. Ralph Lauren’s payout ratio is 38.25%.
In related news, major shareholder Family L.L.C. Lauren sold 71,428 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $112.96, for a total value of $8,068,506.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 214,284 shares of company stock valued at $23,600,525 over the last three months. Company insiders own 32.49% of the company’s stock.
About Ralph Lauren
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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