Bank of New York Mellon Corp raised its position in shares of Ralph Lauren Co. (NYSE:RL – Get Rating) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 625,117 shares of the textile maker’s stock after purchasing an additional 52,072 shares during the quarter. Bank of New York Mellon Corp owned 0.89% of Ralph Lauren worth $53,092,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Ralph Lauren by 18.3% during the 3rd quarter. BlackRock Inc. now owns 5,918,601 shares of the textile maker’s stock valued at $502,667,000 after purchasing an additional 916,317 shares during the period. Vanguard Group Inc. grew its holdings in shares of Ralph Lauren by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,927,941 shares of the textile maker’s stock valued at $559,026,000 after acquiring an additional 37,574 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ralph Lauren by 36.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,913,333 shares of the textile maker’s stock valued at $261,180,000 after acquiring an additional 778,289 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Ralph Lauren by 2.2% during the 3rd quarter. Royce & Associates LP now owns 765,302 shares of the textile maker’s stock valued at $64,997,000 after acquiring an additional 16,532 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ralph Lauren by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 738,424 shares of the textile maker’s stock valued at $62,721,000 after acquiring an additional 20,981 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently commented on RL shares. Telsey Advisory Group restated an “outperform” rating and set a $140.00 price target on shares of Ralph Lauren in a report on Thursday, February 9th. Wedbush boosted their price target on shares of Ralph Lauren to $100.00 in a report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ralph Lauren from $97.00 to $114.00 and gave the company a “hold” rating in a report on Monday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Ralph Lauren from $127.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Finally, Cowen upped their price objective on shares of Ralph Lauren from $148.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ralph Lauren has an average rating of “Hold” and an average target price of $124.86.
Ralph Lauren Stock Down 1.2 %
Ralph Lauren (NYSE:RL – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The textile maker reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.44. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Ralph Lauren had a net margin of 8.01% and a return on equity of 22.88%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.94 earnings per share. On average, equities research analysts expect that Ralph Lauren Co. will post 8.11 earnings per share for the current year.
Ralph Lauren Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, December 29th. Ralph Lauren’s dividend payout ratio (DPR) is presently 40.27%.
Insider Buying and Selling
In related news, CEO Patrice Louvet sold 18,500 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $125.00, for a total value of $2,312,500.00. Following the completion of the transaction, the chief executive officer now owns 202,332 shares of the company’s stock, valued at $25,291,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 36.56% of the company’s stock.
Ralph Lauren Company Profile
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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