Mirae Asset Global Investments Co. Ltd. Has $3.09 Million Stake in Ralph Lauren Corporation $RL

Mirae Asset Global Investments Co. Ltd. reduced its stake in Ralph Lauren Corporation (NYSE:RL) by 75.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,854 shares of the textile maker’s stock after selling 30,090 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ralph Lauren were worth $3,090,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC boosted its position in shares of Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after buying an additional 952,681 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Ralph Lauren in the 3rd quarter valued at approximately $86,719,000. Allianz Asset Management GmbH lifted its stake in Ralph Lauren by 118.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock valued at $106,458,000 after acquiring an additional 210,343 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Ralph Lauren by 26.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock worth $231,306,000 after acquiring an additional 174,847 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Ralph Lauren by 116.6% during the 2nd quarter. Fisher Asset Management LLC now owns 267,742 shares of the textile maker’s stock worth $73,436,000 after acquiring an additional 144,155 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research lowered shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ralph Lauren in a research note on Thursday, January 22nd. Guggenheim started coverage on shares of Ralph Lauren in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Telsey Advisory Group restated an “outperform” rating and set a $435.00 price objective on shares of Ralph Lauren in a research note on Friday. Finally, Evercore ISI lifted their target price on Ralph Lauren from $385.00 to $415.00 and gave the company an “outperform” rating in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.71.

Ralph Lauren Stock Up 1.0%

Shares of RL stock opened at $357.00 on Tuesday. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $380.00. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.56 and a beta of 1.49. The firm’s 50-day moving average is $362.55 and its 200-day moving average is $329.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.04.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.54 earnings per share. Sell-side analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.98%.

Ralph Lauren Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.