Meeder Asset Management Inc. Sells 1,337 Shares of Ralph Lauren Corp (RL)
Meeder Asset Management Inc. cut its position in shares of Ralph Lauren Corp (NYSE:RL) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,503 shares of the textile maker’s stock after selling 1,337 shares during the quarter. Meeder Asset Management Inc.’s holdings in Ralph Lauren were worth $843,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Ralph Lauren in the fourth quarter worth $26,000. Bronfman E.L. Rothschild L.P. grew its position in shares of Ralph Lauren by 44.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 299 shares of the textile maker’s stock worth $31,000 after acquiring an additional 92 shares during the last quarter. Liberty Wealth Management LLC acquired a new stake in Ralph Lauren in the fourth quarter worth about $33,000. CSat Investment Advisory L.P. lifted its holdings in Ralph Lauren by 97.3% in the fourth quarter. CSat Investment Advisory L.P. now owns 436 shares of the textile maker’s stock worth $45,000 after purchasing an additional 215 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in Ralph Lauren in the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 66.71% of the company’s stock.
In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total value of $252,000.00. Following the transaction, the director now owns 7,278 shares in the company, valued at $917,028. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Valerie Hermann sold 10,400 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $126.15, for a total value of $1,311,960.00. Following the completion of the transaction, the insider now owns 38,340 shares in the company, valued at approximately $4,836,591. The disclosure for this sale can be found here. 32.49% of the stock is owned by corporate insiders.
Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Tuesday, February 5th. The textile maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.17. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Ralph Lauren had a return on equity of 16.85% and a net margin of 6.95%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. As a group, research analysts predict that Ralph Lauren Corp will post 7.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.625 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.50 annualized dividend and a dividend yield of 1.91%. Ralph Lauren’s payout ratio is 41.46%.
A number of brokerages have issued reports on RL. Needham & Company LLC raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research report on Thursday, January 10th. JPMorgan Chase & Co. lifted their target price on Ralph Lauren from $140.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Zacks Investment Research raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research report on Thursday, February 7th. Buckingham Research raised Ralph Lauren from a “neutral” rating to a “buy” rating in a report on Wednesday, January 9th. Finally, Wells Fargo & Co raised Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $136.00.
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About Ralph Lauren
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.
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