Tocqueville Asset Management L.P. Increases Stake in Ralph Lauren Corp. (RL)
Tocqueville Asset Management L.P. boosted its position in Ralph Lauren Corp. (NYSE:RL) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,520 shares of the company’s stock after buying an additional 29,675 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.25% of Ralph Lauren Corp. worth $18,329,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RL. Bank of Montreal Can bought a new stake in shares of Ralph Lauren Corp. during the second quarter valued at approximately $21,274,000. Third Avenue Management LLC bought a new stake in shares of Ralph Lauren Corp. during the first quarter valued at approximately $22,030,000. Wellington Management Group LLP increased its stake in shares of Ralph Lauren Corp. by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,036,266 shares of the company’s stock valued at $196,010,000 after buying an additional 171,109 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Ralph Lauren Corp. by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,701,295 shares of the company’s stock valued at $163,767,000 after buying an additional 161,047 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Ralph Lauren Corp. by 100.1% in the first quarter. UBS Asset Management Americas Inc. now owns 290,061 shares of the company’s stock valued at $27,923,000 after buying an additional 145,119 shares during the period. 63.74% of the stock is currently owned by institutional investors and hedge funds.
Ralph Lauren Corp. (NYSE:RL) traded down 2.18% during midday trading on Friday, reaching $97.52. The company’s stock had a trading volume of 1,157,066 shares. The firm has a 50 day moving average price of $101.18 and a 200 day moving average price of $96.96. The firm has a market cap of $8.02 billion, a P/E ratio of 26.65 and a beta of 1.17. Ralph Lauren Corp. has a one year low of $82.15 and a one year high of $137.38.
Ralph Lauren Corp. (NYSE:RL) last announced its earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The business earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. Equities research analysts forecast that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, September 28th. Ralph Lauren Corp.’s payout ratio is 55.25%.
Several analysts have recently commented on RL shares. Cowen and Company reissued a “market perform” rating and issued a $98.00 price objective on shares of Ralph Lauren Corp. in a research note on Wednesday, June 22nd. Vetr raised Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 price objective for the company in a research note on Monday, June 27th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Ralph Lauren Corp. in a report on Monday, August 8th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $95.00 target price (up from $85.00) on shares of Ralph Lauren Corp. in a report on Wednesday, August 10th. Finally, Telsey Advisory Group upped their target price on Ralph Lauren Corp. from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Ralph Lauren Corp. has an average rating of “Hold” and an average price target of $110.63.
Ralph Lauren Corp. 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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