Williams Jones Wealth Management LLC. reduced its stake in shares of Ralph Lauren Co. (NYSE:RL – Get Rating) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,748 shares of the textile maker’s stock after selling 800 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Ralph Lauren were worth $921,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of RL. Morgan Stanley raised its position in Ralph Lauren by 58.3% in the second quarter. Morgan Stanley now owns 202,492 shares of the textile maker’s stock worth $23,855,000 after acquiring an additional 74,615 shares in the last quarter. Raymond James & Associates raised its holdings in Ralph Lauren by 22.0% during the 3rd quarter. Raymond James & Associates now owns 3,808 shares of the textile maker’s stock worth $423,000 after buying an additional 687 shares during the period. Principal Financial Group Inc. raised its holdings in Ralph Lauren by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 63,525 shares of the textile maker’s stock worth $7,054,000 after buying an additional 2,299 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ralph Lauren by 392.1% during the 3rd quarter. Goldman Sachs Group Inc. now owns 528,841 shares of the textile maker’s stock worth $58,722,000 after buying an additional 421,376 shares during the period. Finally, US Bancorp DE raised its holdings in Ralph Lauren by 37.1% during the 3rd quarter. US Bancorp DE now owns 9,585 shares of the textile maker’s stock worth $1,064,000 after buying an additional 2,593 shares during the period. Hedge funds and other institutional investors own 99.89% of the company’s stock.
Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Ralph Lauren from $116.00 to $101.00 in a research note on Wednesday. JPMorgan Chase & Co. raised Ralph Lauren from a “neutral” rating to an “overweight” rating and set a $142.00 price target for the company in a research note on Thursday, March 17th. Truist Financial boosted their price target on Ralph Lauren from $141.00 to $156.00 in a research note on Friday, February 4th. Wells Fargo & Company cut Ralph Lauren from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $135.00 to $110.00 in a research note on Tuesday, April 5th. Finally, Citigroup cut Ralph Lauren from a “buy” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $98.00 in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $129.31.
Ralph Lauren (NYSE:RL – Get Rating) last issued its earnings results on Tuesday, May 24th. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Ralph Lauren had a return on equity of 22.59% and a net margin of 8.38%. Ralph Lauren’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. As a group, equities analysts predict that Ralph Lauren Co. will post 8.16 EPS for the current fiscal year.
Ralph Lauren declared that its Board of Directors has approved a share repurchase plan on Thursday, February 3rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to purchase up to 17.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.69. Ralph Lauren’s dividend payout ratio is presently 41.23%.
About Ralph Lauren (Get Rating)
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 and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, 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, floor coverings, and giftware; and fragrances.
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