Investment Counselors of Maryland LLC held its position in shares of Ralph Lauren Corporation (NYSE:RL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,382 shares of the textile maker’s stock at the end of the second quarter. Investment Counselors of Maryland LLC’s holdings in Ralph Lauren Corporation were worth $176,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Gateway Investment Advisers LLC raised its position in shares of Ralph Lauren Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 3,741 shares of the textile maker’s stock worth $276,000 after buying an additional 12 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Ralph Lauren Corporation by 1.7% in the second quarter. Capstone Asset Management Co. now owns 3,681 shares of the textile maker’s stock worth $272,000 after buying an additional 60 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Ralph Lauren Corporation by 0.6% in the first quarter. Sunbelt Securities Inc. now owns 13,204 shares of the textile maker’s stock worth $1,078,000 after buying an additional 74 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Ralph Lauren Corporation by 1.0% in the first quarter. Mason Street Advisors LLC now owns 7,784 shares of the textile maker’s stock worth $635,000 after buying an additional 80 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Ralph Lauren Corporation by 2.1% in the first quarter. Amalgamated Bank now owns 4,012 shares of the textile maker’s stock worth $327,000 after buying an additional 84 shares in the last quarter. 58.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ralph Lauren Corporation (NYSE RL) opened at 77.29 on Monday. The firm’s market cap is $6.26 billion. Ralph Lauren Corporation has a one year low of $66.06 and a one year high of $114.00. The stock’s 50 day moving average is $72.80 and its 200-day moving average is $77.30.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Thursday, May 18th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.11. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Analysts anticipate that Ralph Lauren Corporation will post $4.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Wednesday, June 28th. Ralph Lauren Corporation’s payout ratio is -163.93%.
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A number of brokerages recently weighed in on RL. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $66.00 price target on shares of Ralph Lauren Corporation in a research note on Friday, July 14th. Cowen and Company reaffirmed a “hold” rating and issued a $80.00 price target (up from $78.00) on shares of Ralph Lauren Corporation in a research note on Tuesday, July 18th. Buckingham Research reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Ralph Lauren Corporation in a research note on Monday, July 17th. ValuEngine lowered shares of Ralph Lauren Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $74.00 price target (down from $78.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $86.77.
About Ralph Lauren Corporation
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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