Bessemer Group Inc. Invests $1.70 Million in Ralph Lauren Corp (RL)
Bessemer Group Inc. bought a new stake in Ralph Lauren Corp (NYSE:RL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,349 shares of the textile maker’s stock, valued at approximately $1,695,000.
Several other institutional investors also recently modified their holdings of RL. Bank of New York Mellon Corp boosted its holdings in shares of Ralph Lauren by 49.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,587,184 shares of the textile maker’s stock valued at $581,581,000 after buying an additional 2,186,269 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Ralph Lauren by 973.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,410,657 shares of the textile maker’s stock valued at $124,553,000 after buying an additional 1,279,221 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Ralph Lauren by 35.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,550,500 shares of the textile maker’s stock valued at $136,894,000 after buying an additional 408,000 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Ralph Lauren in the 3rd quarter valued at $35,440,000. Finally, AXA raised its position in Ralph Lauren by 2,305.1% in the 3rd quarter. AXA now owns 360,309 shares of the textile maker’s stock valued at $31,812,000 after purchasing an additional 345,328 shares during the last quarter. Institutional investors and hedge funds own 66.45% of the company’s stock.
Several analysts recently commented on RL shares. TheStreet upgraded shares of Ralph Lauren from a “c” rating to a “b-” rating in a research report on Monday, November 6th. ValuEngine upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Tuesday, October 10th. Citigroup upped their price target on shares of Ralph Lauren from $91.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Morgan Stanley upped their price target on shares of Ralph Lauren from $83.50 to $91.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $95.94.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $2.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.16. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. Ralph Lauren’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. sell-side analysts expect that Ralph Lauren Corp will post 5.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.90%. Ralph Lauren’s payout ratio is currently -196.08%.
About Ralph Lauren
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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