First Midwest Bank Trust Division bought a new stake in shares of Ralph Lauren Corporation (NYSE:RL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,720 shares of the textile maker’s stock, valued at approximately $770,000.
A number of other hedge funds have also made changes to their positions in RL. Northwestern Mutual Wealth Management Co. increased its holdings in Ralph Lauren Corporation by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock valued at $101,000 after buying an additional 96 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Ralph Lauren Corporation by 12.0% during the second quarter. Pacer Advisors Inc. now owns 2,226 shares of the textile maker’s stock valued at $164,000 after buying an additional 238 shares during the last quarter. Exane Derivatives purchased a new stake in Ralph Lauren Corporation during the second quarter valued at approximately $175,000. PNC Financial Services Group Inc. increased its holdings in Ralph Lauren Corporation by 19.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,044 shares of the textile maker’s stock valued at $248,000 after buying an additional 499 shares during the last quarter. Finally, TLP Group LLC increased its holdings in Ralph Lauren Corporation by 5,614.8% during the second quarter. TLP Group LLC now owns 3,486 shares of the textile maker’s stock valued at $257,000 after buying an additional 3,425 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on RL. Needham & Company LLC reaffirmed a “hold” rating on shares of Ralph Lauren Corporation in a report on Tuesday, September 12th. Buckingham Research increased their price objective on shares of Ralph Lauren Corporation from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 13th. Barclays PLC initiated coverage on shares of Ralph Lauren Corporation in a research note on Tuesday, September 19th. They issued an “underweight” rating and a $84.00 price objective for the company. Cowen and Company reissued a “hold” rating and issued a $89.00 price objective on shares of Ralph Lauren Corporation in a research note on Sunday, September 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $88.00 price objective on shares of Ralph Lauren Corporation in a research note on Thursday, October 5th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.37.
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Ralph Lauren Corporation (NYSE RL) traded down 0.98% during trading on Tuesday, reaching $90.91. 338,189 shares of the company traded hands. Ralph Lauren Corporation has a 52 week low of $66.06 and a 52 week high of $114.00. The firm has a 50-day moving average price of $88.93 and a 200-day moving average price of $80.08. The company’s market capitalization is $7.39 billion.
Ralph Lauren Corporation (NYSE:RL) last issued its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, topping the consensus estimate of $0.96 by $0.15. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS. Analysts forecast that Ralph Lauren Corporation will post $5.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.18%. The ex-dividend date was Thursday, September 28th. Ralph Lauren Corporation’s payout ratio is presently -869.57%.
Ralph Lauren Corporation Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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