Mutual of America Capital Management LLC reduced its stake in shares of Ralph Lauren Co. (NYSE: RL – Get a rating) by 15.8% in the first quarter, Participation channel reports. The company held 18,784 shares of the textile maker after selling 3,529 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ralph Lauren were worth $2,131,000 at the end of the last quarter.
A number of other institutional investors also changed their positions in RL. State of Michigan Retirement System increased its holdings in Ralph Lauren by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 12,316 shares of the textile maker worth $1,464,000 after acquiring 100 more shares last quarter. Allspring Global Investments Holdings LLC bought a new position in Ralph Lauren during the fourth quarter worth approximately $380,000. New Jersey State Joint Pension Fund D increased its holdings in Ralph Lauren by 3.4% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 28,124 shares of the textile maker worth $3,343,000 after acquiring 936 additional shares last quarter. The Illinois Municipal Retirement Fund increased its holdings in Ralph Lauren by 27.0% during the fourth quarter. The Illinois Municipal Retirement Fund now owns 11,565 shares of the textile maker worth $1,375,000 after acquiring 2,457 additional shares last quarter. Finally, Yousif Capital Management LLC purchased a new position in Ralph Lauren during the fourth quarter worth approximately $1,089,000. 99.89% of the shares are held by institutional investors and hedge funds.
Ralph Lauren Price Performance
Shares of NYSERL opened at $98.63 on Friday. The company has a market capitalization of $6.91 billion, a P/E ratio of 12.30, a price-to-earnings growth ratio of 1.30 and a beta of 1.38. The company has a current ratio of 1.87, a quick ratio of 1.44 and a debt ratio of 0.58. Ralph Lauren Co. has a 1-year low of $86.54 and a 1-year high of $135.99. The company’s 50-day moving average is $95.43 and its 200-day moving average is $106.64.
Ralph Lauren (NYSE: RL – Get a rating) last announced its results on Tuesday, May 24. The textile maker reported earnings per share of $0.49 for the quarter, beating analysts’ consensus estimate of $0.30 by $0.19. The company posted revenue of $1.53 billion for the quarter, versus analyst estimates of $1.46 billion. Ralph Lauren had a return on equity of 23.00% and a net margin of 9.65%. The company’s quarterly revenue increased by 18.7% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $0.38. Equity research analysts expect Ralph Lauren Co. to post earnings per share of 8.33 for the current year.
Ralph Lauren increases its dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.75 per share. This represents a dividend of $3.00 on an annualized basis and a yield of 3.04%. The ex-dividend date was Thursday, June 30. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.69. Ralph Lauren’s dividend payout ratio (DPR) is 37.41%.
Changes to analyst ratings
Several research analysts have weighed in on the company. Cowen cut his price target on Ralph Lauren to $142.00 in a Monday, July 25 report. Wells Fargo & Company cut its price target on Ralph Lauren to $95.00 in a Wednesday, May 25 report. Credit Suisse Group lowered its price target on Ralph Lauren from $165.00 to $130.00 and set an “outperform” rating on the stock in a Wednesday, May 18 report. Citigroup downgraded Ralph Lauren from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $140.00 to $98.00 in a Monday, May 23 report. Finally, the Goldman Sachs Group lowered its price target on Ralph Lauren from $85.00 to $78.00 and set a “sell” rating on the stock in a Thursday, July 21 report. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.29.
Ralph Lauren Company Profile
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The company offers clothing, including a range of clothing for men, women and children; footwear and accessories, which include casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves and umbrellas, 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, kitchen linens, flooring and giftware; and perfumes.
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