Ralph Lauren Co. (NYSE:RL) shares sold by Alaska State Department of Revenue
The Alaska State Department of Revenue reduced its position in Ralph Lauren Co. (NYSE: RL – Get Rating) by 7.7% during the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission. The fund held 6,518 shares of the textile maker after selling 540 shares during the period. The Alaska State Department of Revenue’s holdings of Ralph Lauren were worth $739,000 at the end of the most recent reporting period.
A number of other hedge funds have also been buying and selling stocks recently. Wedge Capital Management LLP NC acquired a new position in Ralph Lauren stock during Q1 worth approximately $37,666,000. Keene & Associates Inc. increased its stake in Ralph Lauren shares by 18.3% in the 1st quarter. Keene & Associates Inc. now owns 2,161 shares of the textile maker worth $245,000 after buying 335 additional shares in the last quarter. US Asset Management LLC acquired a new position in Ralph Lauren stock during Q1 worth approximately $35,000. Pacer Advisors Inc. increased its holding in Ralph Lauren shares by 196.3% in Q1. Pacer Advisors Inc. now owns 136,484 shares of the textile maker worth $15,483,000 after buying an additional 90,418 shares in the last quarter. Finally, American Trust acquired a new position in Ralph Lauren stock during Q4 worth approximately $204,000. Institutional investors hold 99.89% of the company’s shares.
Several brokerages have recently weighed in on RL. Telsey Advisory Group lowered its price target on Ralph Lauren from $160.00 to $140.00 and set an “outperform” rating on the stock in a Wednesday, May 25 report. Wells Fargo & Company cut its price target on Ralph Lauren shares to $95.00 in a Wednesday, May 25 research report. TheStreet downgraded Ralph Lauren shares from a ‘b’ rating to a ‘c+’ rating in a Tuesday, May 24 research report. Cowen cut his price target on Ralph Lauren shares from $171.00 to $151.00 and set an “outperform” rating on the stock in a Wednesday, June 1 research report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Ralph Lauren shares from $116.00 to $101.00 in a Wednesday, May 25 research report. One analyst has assigned the stock a sell rating, six have assigned a hold rating and nine have assigned the stock a buy rating. According to data from MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and an average price target of $127.21.
NYSE RL shares opened at $93.14 on Friday. The company has a market capitalization of $6.53 billion, a price-earnings ratio of 11.61, a PEG ratio of 1.22 and a beta of 1.38. The company has a quick ratio of 1.44, a current ratio of 1.87 and a debt ratio of 0.58. Ralph Lauren Co. has a 52-week low of $86.54 and a 52-week high of $135.99. The company’s 50-day moving average is $96.69 and its two-hundred-day moving average is $109.11.
Ralph Lauren (NYSE:RL – Get Rating) last reported quarterly earnings data on Tuesday, May 24. The textile maker reported earnings per share (EPS) of $0.49 for the quarter, beating the consensus estimate of $0.36 by $0.13. The company posted revenue of $1.53 billion for the quarter, versus $1.46 billion expected by analysts. Ralph Lauren had a return on equity of 23.00% and a net margin of 9.65%. The company’s revenue for the quarter increased by 18.7% compared to the same quarter last year. In the same period last year, the company earned $0.38 per share. Analysts expect Ralph Lauren Co. to post EPS of 8.33 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.75. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.69. This represents an annualized dividend of $3.00 and a dividend yield of 3.22%. The ex-date of this dividend is Thursday, June 30. Ralph Lauren’s dividend payout ratio (DPR) is currently 37.41%.
Ralph Lauren Company Profile (Get an assessment)
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The company offers clothing, including a range of clothing for men, women and children; footwear and accessories, which include casual shoes, dress shoes, boots, sneakers, sandals, glasses, 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 comprised of bed and bath lines, furniture, fabrics and wall coverings, lighting, table tops, kitchen linens, flooring and giftware; and perfumes.
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