Fishman Jay A Ltd. MI cut its holdings in Ralph Lauren Corp (NYSE:RL) by 42.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the textile maker’s stock after selling 2,000 shares during the period. Fishman Jay A Ltd. MI’s holdings in Ralph Lauren were worth $258,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Pensionfund DSM Netherlands bought a new position in shares of Ralph Lauren in the second quarter worth about $2,272,000. Pensionfund Sabic bought a new stake in Ralph Lauren during the 2nd quarter valued at approximately $1,477,000. WINTON GROUP Ltd bought a new stake in Ralph Lauren during the 2nd quarter valued at approximately $433,000. Empowered Funds LLC bought a new stake in Ralph Lauren during the 2nd quarter valued at approximately $2,194,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in Ralph Lauren by 28.9% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 3,581 shares of the textile maker’s stock valued at $407,000 after purchasing an additional 803 shares during the period. Institutional investors own 65.54% of the company’s stock.
Shares of Ralph Lauren stock traded down $1.90 during mid-day trading on Friday, reaching $113.77. 1,495,207 shares of the stock traded hands, compared to its average volume of 1,118,336. The business has a 50-day moving average of $95.50 and a 200 day moving average of $104.67. Ralph Lauren Corp has a fifty-two week low of $82.69 and a fifty-two week high of $133.63. The stock has a market capitalization of $7.88 billion, a PE ratio of 15.82, a PEG ratio of 4.06 and a beta of 0.90. The company has a quick ratio of 1.68, a current ratio of 2.30 and a debt-to-equity ratio of 0.72.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.688 per share. The ex-dividend date was Thursday, September 26th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.69. Ralph Lauren’s dividend payout ratio is presently 38.25%.
Several brokerages recently issued reports on RL. Piper Jaffray Companies lifted their target price on Ralph Lauren from $91.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada set a $128.00 target price on Ralph Lauren and gave the company a “buy” rating in a research note on Wednesday, July 31st. Telsey Advisory Group reissued an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Ralph Lauren in a research note on Wednesday, July 31st. Credit Suisse Group decreased their target price on Ralph Lauren from $158.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Guggenheim reissued a “hold” rating on shares of Ralph Lauren in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Ralph Lauren currently has an average rating of “Hold” and an average target price of $128.93.
In other Ralph Lauren news, major shareholder Family L.L.C. Lauren sold 35,714 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $85.06, for a total transaction of $3,037,832.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jane Nielsen sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $113.84, for a total value of $1,138,400.00. Following the transaction, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at approximately $7,434,662.72. The disclosure for this sale can be found here. Insiders have sold 367,140 shares of company stock valued at $34,821,702 in the last three months. Insiders own 34.26% of the company’s stock.
About Ralph Lauren
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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