Allianz Asset Management GmbH decreased its stake in shares of Ralph Lauren Corp (NYSE:RL) by 59.2% during the fourth quarter, HoldingsChannel reports. The firm owned 2,079 shares of the textile maker’s stock after selling 3,019 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ralph Lauren were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Amalgamated Bank increased its stake in Ralph Lauren by 5.7% during the 4th quarter. Amalgamated Bank now owns 11,505 shares of the textile maker’s stock valued at $1,193,000 after purchasing an additional 619 shares in the last quarter. Stansberry Asset Management LLC acquired a new position in Ralph Lauren during the 4th quarter valued at approximately $6,387,000. Spark Investment Management LLC acquired a new position in Ralph Lauren during the 4th quarter valued at approximately $1,814,000. Liberty Mutual Group Asset Management Inc. acquired a new position in Ralph Lauren during the 4th quarter valued at approximately $229,000. Finally, Bank of Hawaii acquired a new position in Ralph Lauren during the 4th quarter valued at approximately $657,000. Institutional investors and hedge funds own 73.64% of the company’s stock.
A number of brokerages have issued reports on RL. Cowen upgraded shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and cut their price target for the company from $119.33 to $66.06 in a research note on Thursday, March 22nd. Zacks Investment Research downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. ValuEngine downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Piper Jaffray set a $109.00 price objective on shares of Ralph Lauren and gave the company a “sell” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group assumed coverage on shares of Ralph Lauren in a report on Monday, March 12th. They issued an “outperform” rating and a $125.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.17.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, February 1st. The textile maker reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.16. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. research analysts anticipate that Ralph Lauren Corp will post 5.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 28th. Ralph Lauren’s dividend payout ratio (DPR) is presently 35.03%.
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Ralph Lauren 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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