Ralph Lauren Corporation (NYSE:RL)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at ($95.00), but opened at $0.00. Ralph Lauren Corporation shares last traded at $0.00, with a volume of 5252762 shares.

The textile maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.13. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. Ralph Lauren Corporation’s revenue was down 8.6% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of Infinity. The ex-dividend date of this dividend was Thursday, September 28th.

A number of research firms have weighed in on RL. Piper Jaffray Companies reissued a “sell” rating and issued a $81.00 target price on shares of Ralph Lauren Corporation in a report on Thursday, August 10th. Cowen and Company set a $97.00 price objective on Ralph Lauren Corporation and gave the stock a “hold” rating in a research note on Wednesday. Atlantic Securities raised Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $93.00 in a research note on Wednesday, August 9th. UBS AG reaffirmed a “positive” rating and issued a $90.00 price objective (up previously from $73.00) on shares of Ralph Lauren Corporation in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $88.00 price objective on Ralph Lauren Corporation and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Ralph Lauren Corporation has a consensus rating of “Hold” and an average price target of $87.87.

Institutional investors have recently made changes to their positions in the company. Hosking Partners LLP boosted its holdings in shares of Ralph Lauren Corporation by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 174,161 shares of the textile maker’s stock worth $12,853,000 after purchasing an additional 2,815 shares during the period. QS Investors LLC lifted its stake in shares of Ralph Lauren Corporation by 3,044.4% during the 2nd quarter. QS Investors LLC now owns 12,892 shares of the textile maker’s stock worth $951,000 after acquiring an additional 12,482 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Ralph Lauren Corporation by 0.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 3,741 shares of the textile maker’s stock worth $276,000 after acquiring an additional 12 shares during the last quarter. Rothschild Investment Corp IL lifted its stake in shares of Ralph Lauren Corporation by 21.2% during the 2nd quarter. Rothschild Investment Corp IL now owns 24,385 shares of the textile maker’s stock worth $1,800,000 after acquiring an additional 4,260 shares during the last quarter. Finally, Andra AP fonden lifted its stake in shares of Ralph Lauren Corporation by 152.9% during the 2nd quarter. Andra AP fonden now owns 65,500 shares of the textile maker’s stock worth $4,834,000 after acquiring an additional 39,600 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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Ralph Lauren Corporation Company Profile

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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