Scout Investments Inc. lessened its holdings in shares of Ralph Lauren Corp (NYSE:RL) by 4.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 123,899 shares of the textile maker’s stock after selling 5,682 shares during the quarter. Scout Investments Inc. owned about 0.15% of Ralph Lauren worth $17,042,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RL. Point72 Hong Kong Ltd bought a new stake in shares of Ralph Lauren in the 2nd quarter worth $150,000. Financial Architects Inc raised its stake in shares of Ralph Lauren by 498.6% in the 2nd quarter. Financial Architects Inc now owns 1,251 shares of the textile maker’s stock worth $158,000 after buying an additional 1,042 shares in the last quarter. Visionary Asset Management Inc. bought a new stake in shares of Ralph Lauren in the 2nd quarter worth $203,000. Cadence Capital Management LLC bought a new stake in shares of Ralph Lauren in the 2nd quarter worth $203,000. Finally, Lourd Capital LLC bought a new stake in shares of Ralph Lauren in the 3rd quarter worth $205,000. Institutional investors own 70.79% of the company’s stock.
A number of analysts have recently commented on the company. Buckingham Research boosted their price objective on Ralph Lauren from $138.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. raised Ralph Lauren from a “neutral” rating to an “overweight” rating and set a $150.00 price objective on the stock in a research note on Monday. Zacks Investment Research raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Thursday, October 4th. Piper Jaffray Companies raised Ralph Lauren from an “underweight” rating to a “neutral” rating and set a $125.00 price objective on the stock in a research note on Thursday, September 20th. Finally, Barclays boosted their price objective on Ralph Lauren from $114.00 to $118.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $133.60.
Ralph Lauren (NYSE:RL) last announced its earnings results on Tuesday, July 31st. The textile maker reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.18. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Ralph Lauren had a return on equity of 15.49% and a net margin of 3.41%. Ralph Lauren’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities research analysts predict that Ralph Lauren Corp will post 6.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 41.46%.
In related news, Director Michael A. George bought 1,815 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $137.72 per share, with a total value of $249,961.80. Following the completion of the transaction, the director now directly owns 2,897 shares of the company’s stock, valued at $398,974.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.49% of the stock is owned by insiders.
Ralph Lauren Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
Further Reading: What is the Ex-Dividend Date in Investing?
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