Schwab Charles Investment Management Inc. Purchases 96,618 Shares of Ralph Lauren Corp (RL)
Schwab Charles Investment Management Inc. raised its position in Ralph Lauren Corp (NYSE:RL) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,133 shares of the textile maker’s stock after purchasing an additional 96,618 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Ralph Lauren were worth $52,689,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in RL. Bank of New York Mellon Corp increased its stake in shares of Ralph Lauren by 49.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,587,184 shares of the textile maker’s stock valued at $581,581,000 after acquiring an additional 2,186,269 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Ralph Lauren by 973.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,410,657 shares of the textile maker’s stock valued at $124,553,000 after acquiring an additional 1,279,221 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Ralph Lauren by 35.7% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,550,500 shares of the textile maker’s stock valued at $136,894,000 after acquiring an additional 408,000 shares during the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Ralph Lauren during the 3rd quarter valued at about $35,440,000. Finally, AXA increased its stake in shares of Ralph Lauren by 2,305.1% during the 3rd quarter. AXA now owns 360,309 shares of the textile maker’s stock valued at $31,812,000 after acquiring an additional 345,328 shares during the last quarter. Institutional investors own 66.45% of the company’s stock.
RL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Bank of America downgraded shares of Ralph Lauren from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $100.14 to $80.00 in a research note on Wednesday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Ralph Lauren in a research note on Monday, October 16th. Citigroup upped their price objective on shares of Ralph Lauren from $91.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, ValuEngine raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating, six 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 $95.94.
Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, February 1st. The textile maker reported $2.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.16. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ralph Lauren had a positive return on equity of 14.64% and a negative net margin of 1.33%. Ralph Lauren’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. equities analysts forecast that Ralph Lauren Corp will post 5.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, December 28th. Ralph Lauren’s dividend payout ratio is presently -196.08%.
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Ralph Lauren 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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