Wedge Capital Management LLP NC acquired a new position in Ralph Lauren Co. (NYSE: RL – Get a rating) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 332,036 shares of the textile maker, valued at around $37,666,000.
A number of other hedge funds have also recently changed their positions in RL. US Asset Management LLC bought a new equity stake in Ralph Lauren in the first quarter valued at around $35,000. Daiwa Securities Group Inc. increased its position in Ralph Lauren shares by 38.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker worth $54,000 after buying an additional 125 shares during the period. Covestor Ltd purchased a new stake in shares of Ralph Lauren in the fourth quarter worth approximately $57,000. IndexIQ Advisors LLC bought a new stake in shares of Ralph Lauren in the fourth quarter worth approximately $84,000. Finally, Fifth Third Bancorp increased its position in Ralph Lauren shares by 32.3% in the fourth quarter. Fifth Third Bancorp now owns 851 shares of the textile maker valued at $101,000 after buying an additional 208 shares during the period. 99.89% of the shares are currently held by institutional investors and hedge funds.
Shares of Action Ralph Lauren traded down $0.70 during Wednesday’s trading, hitting $92.86. The company’s stock had a trading volume of 6,070 shares, compared to an average volume of 1,160,798. The company’s 50-day moving average is $100.73 and its two-hundred-day moving average is $111.28. Ralph Lauren Co. has a 52-week low of $86.54 and a 52-week high of $135.99. The company has a quick ratio of 1.44, a current ratio of 1.87 and a debt ratio of 0.58. The company has a market capitalization of $6.51 billion, a price-earnings ratio of 11.49, a PEG ratio of 1.20 and a beta of 1.38.
Ralph Lauren (NYSE: RL – Get a rating) last released its quarterly results on Tuesday, May 24. The textile maker reported EPS of $0.49 for the quarter, beating consensus analyst estimates of $0.36 by $0.13. Ralph Lauren had a net margin of 9.65% and a return on equity of 23.00%. The company posted revenue of $1.53 billion in the quarter, compared to analysts’ estimates of $1.46 billion. During the same period a year earlier, the company posted EPS of $0.38. The company’s revenue increased by 18.7% compared to the same quarter last year. On average, equity research analysts expect Ralph Lauren Co. to post an EPS of 8.33 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Friday, July 1 will receive a dividend of $0.75 per share. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.69. This represents a dividend of $3.00 on an annualized basis and a yield of 3.23%. The ex-date of this dividend is Thursday, June 30. Ralph Lauren’s dividend payout ratio is currently 34.29%.
Several equity analysts have recently commented on the stock. Wedbush cut Ralph Lauren shares from an “outperform” rating to a “neutral” rating and lowered its price target for the company from $150.00 to $127.00 in a Monday research note 7 march. Barclays cut its price target on Ralph Lauren shares from $117.00 to $99.00 and set an “equal weight” rating for the company in a Wednesday May 25 research note. Citigroup cut Ralph Lauren shares from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $140.00 to $98.00 in a Monday 23 research note. may. Wells Fargo & Company cut its price target on Ralph Lauren shares to $95.00 in a Wednesday, May 25 research note. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Ralph Lauren shares from $116.00 to $101.00 in a Wednesday, May 25 research note. One equity research analyst gave the stock a sell rating, six gave the stock a hold rating and nine gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.21.
About Ralph Lauren (Get a rating)
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The Company offers apparel, including a range of apparel and accessories for men, women and children, which includes casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, jewelry fashion and refined, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods and belts; home products comprised of bed and bath lines, furniture, fabrics and wall coverings, lighting, table tops, flooring and giftware; and perfumes.
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