Ralph Lauren Corporation (RL) Stake Held by Barings LLC
Barings LLC held its stake in shares of Ralph Lauren Corporation (NYSE:RL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,560 shares of the textile maker’s stock at the close of the second quarter. Barings LLC’s holdings in Ralph Lauren Corporation were worth $3,229,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AHL Partners LLP increased its stake in Ralph Lauren Corporation by 52.3% in the 2nd quarter. AHL Partners LLP now owns 88,612 shares of the textile maker’s stock valued at $6,539,000 after buying an additional 30,439 shares during the last quarter. GLG Partners LP purchased a new stake in Ralph Lauren Corporation in the 2nd quarter valued at about $8,285,000. Zurich Insurance Group Ltd FI purchased a new stake in Ralph Lauren Corporation in the 2nd quarter valued at about $1,212,000. QCM Cayman Ltd. purchased a new stake in Ralph Lauren Corporation in the 2nd quarter valued at about $325,000. Finally, Clinton Group Inc. increased its stake in Ralph Lauren Corporation by 22.1% in the 2nd quarter. Clinton Group Inc. now owns 59,595 shares of the textile maker’s stock valued at $4,398,000 after buying an additional 10,777 shares during the last quarter. 62.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ralph Lauren Corporation (RL) traded down 1.04% during midday trading on Friday, hitting $88.50. 134,875 shares of the stock traded hands. The company’s 50-day moving average is $88.53 and its 200 day moving average is $79.10. The firm’s market capitalization is $7.19 billion. Ralph Lauren Corporation has a 52 week low of $66.06 and a 52 week high of $114.00.
Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. Analysts anticipate that Ralph Lauren Corporation will post $5.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.24%. Ralph Lauren Corporation’s payout ratio is -869.57%.
Several research firms have commented on RL. Royal Bank Of Canada reiterated a “hold” rating and issued a $88.00 price objective on shares of Ralph Lauren Corporation in a research note on Thursday. Tigress Financial reiterated a “hold” rating on shares of Ralph Lauren Corporation in a research note on Thursday, September 28th. Barclays PLC began coverage on shares of Ralph Lauren Corporation in a research note on Tuesday, September 19th. They issued an “underweight” rating and a $84.00 price objective for the company. Cowen and Company reiterated a “hold” rating and issued a $89.00 price objective on shares of Ralph Lauren Corporation in a research note on Sunday, September 17th. Finally, Buckingham Research increased their price objective on shares of Ralph Lauren Corporation from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.73.
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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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