MetLife Investment Management LLC lessened its stake in Ralph Lauren Co. (NYSE:RL – Get Rating) by 8.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,372 shares of the textile maker’s stock after selling 1,082 shares during the period. MetLife Investment Management LLC’s holdings in Ralph Lauren were worth $966,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RL. Texas Permanent School Fund boosted its position in shares of Ralph Lauren by 1.8% during the 2nd quarter. Texas Permanent School Fund now owns 6,113 shares of the textile maker’s stock valued at $548,000 after purchasing an additional 109 shares in the last quarter. Keene & Associates Inc. lifted its stake in Ralph Lauren by 5.3% during the third quarter. Keene & Associates Inc. now owns 2,486 shares of the textile maker’s stock valued at $211,000 after buying an additional 125 shares in the last quarter. Hancock Whitney Corp lifted its stake in Ralph Lauren by 1.6% during the third quarter. Hancock Whitney Corp now owns 9,739 shares of the textile maker’s stock valued at $827,000 after buying an additional 158 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Ralph Lauren by 6.6% during the third quarter. Kestra Advisory Services LLC now owns 2,676 shares of the textile maker’s stock valued at $227,000 after buying an additional 165 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Ralph Lauren by 6.7% during the first quarter. Wellington Management Group LLP now owns 3,086 shares of the textile maker’s stock valued at $350,000 after buying an additional 194 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on RL shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ralph Lauren from $97.00 to $114.00 and gave the company a “hold” rating in a research note on Monday, February 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $140.00 price target on shares of Ralph Lauren in a research report on Thursday, February 9th. TheStreet raised shares of Ralph Lauren from a “c+” rating to a “b-” rating in a research report on Monday, November 7th. Cowen increased their price target on shares of Ralph Lauren from $132.00 to $148.00 in a research report on Monday, December 12th. Finally, StockNews.com raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.86.
Insider Transactions at Ralph Lauren
Ralph Lauren Trading Down 1.1 %
Shares of RL stock opened at $116.88 on Thursday. Ralph Lauren Co. has a 12 month low of $82.23 and a 12 month high of $129.83. The company has a quick ratio of 1.37, a current ratio of 2.08 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $117.59 and its two-hundred day moving average is $104.36. The company has a market cap of $7.71 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38.
Ralph Lauren (NYSE:RL – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The textile maker reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.44. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ralph Lauren had a net margin of 8.01% and a return on equity of 22.88%. Ralph Lauren’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $2.94 earnings per share. Equities analysts predict that Ralph Lauren Co. will post 8.05 EPS for the current year.
Ralph Lauren Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $3.00 annualized dividend and a dividend yield of 2.57%. Ralph Lauren’s payout ratio is 40.27%.
About Ralph Lauren
Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed products. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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