Ralph Lauren Corporation (RL) Position Boosted by Balyasny Asset Management LLC
Balyasny Asset Management LLC boosted its position in Ralph Lauren Corporation (NYSE:RL) by 1,850.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,294 shares of the textile maker’s stock after buying an additional 262,131 shares during the period. Balyasny Asset Management LLC owned approximately 0.34% of Ralph Lauren Corporation worth $20,390,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ralph Lauren Corporation by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock worth $101,000 after buying an additional 96 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $110,000. Pacer Advisors Inc. grew its position in shares of Ralph Lauren Corporation by 97.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock worth $162,000 after buying an additional 979 shares during the period. Engine Capital Management LLC acquired a new stake in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $163,000. Finally, Exane Derivatives acquired a new stake in shares of Ralph Lauren Corporation during the 2nd quarter worth approximately $175,000. Institutional investors and hedge funds own 62.88% of the company’s stock.
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Ralph Lauren Corporation (RL) opened at 88.3931 on Monday. Ralph Lauren Corporation has a 12-month low of $66.06 and a 12-month high of $114.00. The firm’s 50-day moving average is $86.13 and its 200-day moving average is $78.34. The stock’s market capitalization is $7.18 billion.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, topping the consensus estimate of $0.96 by $0.15. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. Ralph Lauren Corporation’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Analysts predict that Ralph Lauren Corporation will post $5.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 28th. Ralph Lauren Corporation’s dividend payout ratio is -869.57%.
Several brokerages recently issued reports on RL. Piper Jaffray Companies reissued a “sell” rating and set a $66.00 target price on shares of Ralph Lauren Corporation in a research note on Friday, July 14th. Cowen and Company restated a “hold” rating and issued a $80.00 price target (up from $78.00) on shares of Ralph Lauren Corporation in a report 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. Atlantic Securities raised shares of Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $93.00 in a research note on Wednesday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Ralph Lauren Corporation in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $88.93.
Ralph Lauren Corporation 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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