43,286 Shares in Ralph Lauren Corporation (RL) Acquired by HighTower Advisors LLC
HighTower Advisors LLC purchased a new position in shares of Ralph Lauren Corporation (NYSE:RL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,286 shares of the textile maker’s stock, valued at approximately $3,188,000. HighTower Advisors LLC owned about 0.05% of Ralph Lauren Corporation as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its holdings in shares of Ralph Lauren Corporation by 11.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 145,367 shares of the textile maker’s stock worth $11,865,000 after acquiring an additional 14,421 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $898,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Ralph Lauren Corporation by 29.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,179 shares of the textile maker’s stock worth $341,000 after acquiring an additional 951 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $638,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Ralph Lauren Corporation by 1.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 18,343 shares of the textile maker’s stock worth $1,497,000 after acquiring an additional 299 shares during the last quarter. 62.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ralph Lauren Corporation (NYSE RL) opened at 89.48 on Thursday. Ralph Lauren Corporation has a 1-year low of $66.06 and a 1-year high of $114.00. The company’s market capitalization is $7.27 billion. The company has a 50-day moving average price of $88.44 and a 200 day moving average price of $79.03.
Ralph Lauren Corporation (NYSE:RL) last released its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. Equities research analysts anticipate that Ralph Lauren Corporation will post $5.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. Ralph Lauren Corporation’s dividend payout ratio is currently -869.57%.
A number of research analysts recently weighed in on RL shares. BidaskClub raised Ralph Lauren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Macquarie raised Ralph Lauren Corporation to a “buy” rating and boosted their target price for the stock from $96.00 to $100.00 in a report on Tuesday, September 5th. Royal Bank Of Canada reissued a “hold” rating and set a $75.00 target price on shares of Ralph Lauren Corporation in a report on Friday, July 7th. Needham & Company LLC started coverage on Ralph Lauren Corporation in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Finally, Cowen and Company reissued a “hold” rating and set a $80.00 target price (up from $78.00) on shares of Ralph Lauren Corporation in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.73.
About Ralph Lauren Corporation
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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