Ralph Lauren Corp (NYSE:RL) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,045,000 shares, a growth of 27.4% from the May 30th total of 3,960,300 shares. Currently, 9.7% of the company’s stock are sold short. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is presently 4.7 days.
In other news, major shareholder Family L.L.C. Lauren sold 71,428 shares of Ralph Lauren stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $110.01, for a total value of $7,857,794.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 285,712 shares of company stock valued at $31,458,320 over the last quarter. Corporate insiders own 34.26% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Ralph Lauren by 5.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,723,377 shares of the textile maker’s stock valued at $223,489,000 after buying an additional 94,638 shares during the period. Geode Capital Management LLC increased its holdings in Ralph Lauren by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 922,088 shares of the textile maker’s stock valued at $95,271,000 after buying an additional 58,183 shares during the period. APG Asset Management N.V. increased its holdings in Ralph Lauren by 19.3% in the 4th quarter. APG Asset Management N.V. now owns 790,328 shares of the textile maker’s stock valued at $71,528,000 after buying an additional 128,000 shares during the period. Northern Trust Corp increased its holdings in Ralph Lauren by 4.3% in the 1st quarter. Northern Trust Corp now owns 762,957 shares of the textile maker’s stock valued at $98,939,000 after buying an additional 31,531 shares during the period. Finally, Marshall Wace LLP increased its holdings in Ralph Lauren by 291.9% in the 1st quarter. Marshall Wace LLP now owns 735,437 shares of the textile maker’s stock valued at $95,371,000 after buying an additional 547,787 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.
RL stock traded up $1.36 on Friday, reaching $112.47. 813,424 shares of the company were exchanged, compared to its average volume of 885,822. Ralph Lauren has a 12 month low of $95.63 and a 12 month high of $147.79. The company has a fifty day simple moving average of $111.49. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.38 and a beta of 0.87. The company has a quick ratio of 2.31, a current ratio of 3.00 and a debt-to-equity ratio of 0.21.
Ralph Lauren (NYSE:RL) last announced its earnings results on Tuesday, May 14th. The textile maker reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.14. Ralph Lauren had a net margin of 6.83% and a return on equity of 17.38%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Ralph Lauren’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ralph Lauren will post 7.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.6875 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $2.75 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.63. Ralph Lauren’s payout ratio is 38.25%.
RL has been the topic of a number of recent analyst reports. OTR Global raised shares of Ralph Lauren to a “positive” rating in a research report on Friday, April 26th. UBS Group set a $70.00 price target on shares of Lumentum and gave the company a “buy” rating in a research report on Wednesday, May 8th. Royal Bank of Canada lifted their price target on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. Bank of America reissued a “buy” rating on shares of Continental in a research report on Wednesday, May 15th. Finally, TheStreet raised shares of Third Point Reinsurance from a “d+” rating to a “c-” rating in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $136.40.
Ralph Lauren Company Profile
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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