Engineers Gate Manager LP cut its holdings in Ralph Lauren Corporation (NYSE:RL) by 85.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,537 shares of the textile maker’s stock after selling 44,956 shares during the quarter. Engineers Gate Manager LP’s holdings in Ralph Lauren Corporation were worth $556,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in Ralph Lauren Corporation in the first quarter valued at about $110,000. Daiwa Securities Group Inc. raised its stake in Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock valued at $139,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. raised its stake in Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares during the last quarter. Engine Capital Management LLC purchased a new stake in Ralph Lauren Corporation in the first quarter valued at about $163,000. Finally, Exane Derivatives purchased a new stake in Ralph Lauren Corporation in the second quarter valued at about $175,000. Institutional investors own 62.89% of the company’s stock.
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Shares of Ralph Lauren Corporation (NYSE:RL) opened at 90.87 on Friday. The firm’s market capitalization is $7.38 billion. Ralph Lauren Corporation has a one year low of $66.06 and a one year high of $114.00. The firm has a 50-day moving average price of $85.26 and a 200 day moving average price of $78.21.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.15. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. Equities analysts forecast that Ralph Lauren Corporation will post $5.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.20%. Ralph Lauren Corporation’s dividend payout ratio is presently -869.57%.
RL has been the subject of several research analyst reports. Zacks Investment Research cut Ralph Lauren Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Tigress Financial initiated coverage on Ralph Lauren Corporation in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. ValuEngine cut Ralph Lauren Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company restated an “outperform” rating and issued a $75.00 price objective on shares of Ralph Lauren Corporation in a research note on Monday, June 12th. Finally, BidaskClub upgraded Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.49.
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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