Meiji Yasuda Life Insurance Co acquired a new position in shares of Ralph Lauren Corp (NYSE:RL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,750 shares of the textile maker’s stock, valued at approximately $357,000.
A number of other institutional investors have also recently modified their holdings of RL. Andra AP fonden acquired a new position in shares of Ralph Lauren during the first quarter worth approximately $8,637,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Ralph Lauren in the first quarter valued at approximately $507,000. Lazard Asset Management LLC lifted its holdings in Ralph Lauren by 28.3% in the first quarter. Lazard Asset Management LLC now owns 48,897 shares of the textile maker’s stock valued at $6,340,000 after buying an additional 10,798 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Ralph Lauren by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 208,921 shares of the textile maker’s stock valued at $27,092,000 after buying an additional 4,305 shares during the period. Finally, Cognios Capital LLC lifted its holdings in Ralph Lauren by 33.6% in the first quarter. Cognios Capital LLC now owns 27,372 shares of the textile maker’s stock valued at $3,549,000 after buying an additional 6,883 shares during the period. 66.17% of the stock is currently owned by hedge funds and other institutional investors.
RL opened at $112.70 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.31 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.43 and a beta of 0.85. Ralph Lauren Corp has a twelve month low of $95.63 and a twelve month high of $147.79.
Ralph Lauren (NYSE:RL) last posted its earnings results on Tuesday, May 14th. The textile maker reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.14. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Ralph Lauren had a net margin of 6.83% and a return on equity of 17.38%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Research analysts predict that Ralph Lauren Corp will post 7.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.6875 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.63. This represents a $2.75 annualized dividend and a yield of 2.44%. Ralph Lauren’s dividend payout ratio (DPR) is 34.77%.
In other news, major shareholder Family L.L.C. Lauren sold 71,428 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $105.23, for a total transaction of $7,516,368.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 32.49% of the company’s stock.
Several equities analysts recently weighed in on RL shares. Citigroup restated a “neutral” rating and issued a $131.00 price objective on shares of Ralph Lauren in a report on Monday, March 18th. JPMorgan Chase & Co. increased their price objective on shares of Ralph Lauren from $140.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Wells Fargo & Co upgraded shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Wednesday, March 27th. OTR Global upgraded shares of Ralph Lauren to a “positive” rating in a report on Friday, April 26th. Finally, UBS Group increased their price objective on shares of Ralph Lauren from $127.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $136.06.
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Ralph Lauren Profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
Further Reading: What is a Leveraged Buyout (LBO)?
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