APG Asset Management N.V. Boosts Position in Ralph Lauren Corporation (RL)
APG Asset Management N.V. raised its position in shares of Ralph Lauren Corporation (NYSE:RL) by 47.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 513,608 shares of the textile maker’s stock after buying an additional 165,100 shares during the period. APG Asset Management N.V. owned about 0.63% of Ralph Lauren Corporation worth $37,904,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Intellectus Partners LLC boosted its stake in Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock worth $107,000 after buying an additional 200 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Ralph Lauren Corporation during the first quarter valued at approximately $110,000. Daiwa Securities Group Inc. boosted its stake in shares of Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock valued at $139,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares during the last quarter. Finally, Engine Capital Management LLC purchased a new stake in shares of Ralph Lauren Corporation during the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 58.45% of the company’s stock.
Ralph Lauren Corporation (NYSE RL) opened at 77.29 on Monday. The company’s 50-day moving average price is $72.80 and its 200-day moving average price is $77.30. The stock’s market cap is $6.26 billion. Ralph Lauren Corporation has a 1-year low of $66.06 and a 1-year high of $114.00.
Ralph Lauren Corporation (NYSE:RL) last issued its quarterly earnings results on Thursday, May 18th. The textile maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. Ralph Lauren Corporation’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Analysts predict that Ralph Lauren Corporation will post $4.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio is currently -163.93%.
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Several analysts recently commented on the company. Bank of America Corporation reiterated a “neutral” rating and set a $80.00 price target on shares of Ralph Lauren Corporation in a research report on Thursday, July 27th. Needham & Company LLC assumed coverage on Ralph Lauren Corporation in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Cowen and Company reissued a “hold” rating and set a $80.00 price objective (up previously from $78.00) on shares of Ralph Lauren Corporation in a research note on Tuesday, July 18th. Buckingham Research reissued a “neutral” rating and set a $68.00 price objective on shares of Ralph Lauren Corporation in a research note on Monday, July 17th. Finally, 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. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $86.77.
Ralph Lauren Corporation 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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