BlackRock Advisors LLC Increases Position in Ralph Lauren Corp. (RL)
BlackRock Advisors LLC increased its position in shares of Ralph Lauren Corp. (NYSE:RL) by 285.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,262 shares of the company’s stock after buying an additional 307,548 shares during the period. BlackRock Advisors LLC owned about 0.50% of Ralph Lauren Corp. worth $37,216,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Trust Department MB Financial Bank N A increased its position in shares of Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock worth $149,000 after buying an additional 1,002 shares during the last quarter. Kazazian Asset Management LLC bought a new position in shares of Ralph Lauren Corp. during the first quarter worth approximately $111,000. Investment Counselors of Maryland LLC bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $141,000. Exane Derivatives increased its position in shares of Ralph Lauren Corp. by 15.8% in the first quarter. Exane Derivatives now owns 1,583 shares of the company’s stock worth $152,000 after buying an additional 216 shares during the last quarter. Finally, Commonwealth Equity Services Inc bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $202,000. Institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. (NYSE:RL) opened at 98.77 on Wednesday. Ralph Lauren Corp. has a 12-month low of $82.15 and a 12-month high of $137.38. The stock’s 50 day moving average is $102.93 and its 200 day moving average is $96.59. The stock has a market capitalization of $8.12 billion, a PE ratio of 26.99 and a beta of 1.11.
Ralph Lauren Corp. (NYSE:RL) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts forecast that Ralph Lauren Corp. will post $5.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. Ralph Lauren Corp.’s payout ratio is 55.25%.
A number of brokerages have commented on RL. Piper Jaffray Cos. restated a “neutral” rating and issued a $88.00 target price (up from $81.00) on shares of Ralph Lauren Corp. in a research note on Saturday, June 4th. Vetr upgraded Ralph Lauren Corp. from a “hold” rating to a “buy” rating and set a $96.72 price objective for the company in a research report on Wednesday, August 3rd. Telsey Advisory Group reduced their price objective on Ralph Lauren Corp. from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Brean Capital reiterated a “hold” rating on shares of Ralph Lauren Corp. in a research report on Thursday, August 11th. Finally, Zacks Investment Research upgraded Ralph Lauren Corp. from a “sell” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Friday, August 12th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $110.09.
About Ralph Lauren Corp.
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 in three segments: Wholesale, Retail and Licensing. Wholesale business, representing approximately 46% of net revenues as of fiscal year ended March 28, 2015 (Fiscal 2015), consists of sales made to department stores and specialty stores around the world.
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