Nomura Asset Management Co. Ltd. Sells 5,645 Shares of Ralph Lauren Corporation $RL

Key Points

• Nomura Asset Management cut its Ralph Lauren stake by 34.3% in the fourth quarter, selling 5,645 shares and leaving it with 10,807 shares valued at about $3.82 million.
• Ralph Lauren reported strong quarterly results, with earnings of $2.80 per share and revenue of $1.98 billion, both beating analyst expectations. Revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $1.00 per share from $0.91, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $428.29.

Nomura Asset Management Co. Ltd. lessened its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,807 shares of the textile maker's stock after selling 5,645 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Ralph Lauren were worth $3,821,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its holdings in Ralph Lauren by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker's stock valued at $1,565,000 after buying an additional 31 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. raised its holdings in Ralph Lauren by 0.3% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 11,762 shares of the textile maker's stock valued at $3,688,000 after buying an additional 32 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in Ralph Lauren by 0.4% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,311 shares of the textile maker's stock valued at $2,920,000 after buying an additional 34 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Ralph Lauren by 23.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 179 shares of the textile maker's stock valued at $63,000 after buying an additional 34 shares during the last quarter. Finally, Polymer Capital Management US LLC raised its holdings in Ralph Lauren by 1.1% in the 3rd quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker's stock valued at $1,013,000 after buying an additional 34 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Stock Performance

NYSE:RL opened at $366.47 on Friday. The company has a fifty day moving average of $359.62 and a 200-day moving average of $358.30. The firm has a market capitalization of $21.81 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.79 and a beta of 1.35. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a twelve month low of $258.13 and a twelve month high of $393.41.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.28. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. Ralph Lauren's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. As a group, sell-side analysts anticipate that Ralph Lauren Corporation will post 18.29 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $1.00 dividend. The ex-dividend date is Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is an increase from Ralph Lauren's previous quarterly dividend of $0.91. Ralph Lauren's dividend payout ratio (DPR) is presently 24.16%.

Wall Street Analysts Forecast Growth

RL has been the subject of several analyst reports. Zacks Research lowered shares of Ralph Lauren from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Wells Fargo & Company raised their price target on shares of Ralph Lauren from $400.00 to $415.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. Barclays raised their price target on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Finally, Citigroup upgraded shares of Ralph Lauren from a "neutral" rating to a "buy" rating and raised their price target for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ralph Lauren presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.29.

Ralph Lauren Company 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.

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