AQR Capital Management LLC Sells 139,649 Shares of Ralph Lauren Corporation (RL)

AQR Capital Management LLC cut its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 63.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,491 shares of the textile maker’s stock after selling 139,649 shares during the period. AQR Capital Management LLC owned 0.10% of Ralph Lauren Corporation worth $6,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RL. Comerica Bank increased its position in shares of Ralph Lauren Corporation by 2.1% in the fourth quarter. Comerica Bank now owns 13,861 shares of the textile maker’s stock valued at $1,196,000 after buying an additional 287 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Ralph Lauren Corporation by 11.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,755 shares of the textile maker’s stock valued at $249,000 after buying an additional 290 shares during the period. GSA Capital Partners LLP boosted its stake in Ralph Lauren Corporation by 9.1% in the fourth quarter. GSA Capital Partners LLP now owns 5,449 shares of the textile maker’s stock valued at $492,000 after buying an additional 453 shares during the period. Janus Capital Management LLC boosted its stake in Ralph Lauren Corporation by 5.9% in the fourth quarter. Janus Capital Management LLC now owns 6,143 shares of the textile maker’s stock valued at $555,000 after buying an additional 343 shares during the period. Finally, Norges Bank bought a new stake in Ralph Lauren Corporation during the fourth quarter valued at $71,499,000. 58.45% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Corporation (NYSE RL) traded up 13.28% during trading on Tuesday, hitting $88.53. 4,959,665 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $73.28 and a 200 day moving average price of $77.28. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The company’s market cap is $7.17 billion.

Ralph Lauren Corporation (NYSE:RL) last announced its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.15. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, equities research analysts predict that Ralph Lauren Corporation will post $4.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio is presently -163.93%.

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Several analysts have recently weighed in on RL shares. Royal Bank Of Canada restated a “sector perform” rating and set a $75.00 price objective (down previously from $84.00) on shares of Ralph Lauren Corporation in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Piper Jaffray Companies restated a “sell” rating and set a $66.00 price objective on shares of Ralph Lauren Corporation in a research report on Friday, July 14th. Credit Suisse Group restated a “neutral” rating and set a $74.00 price objective (down previously from $78.00) on shares of Ralph Lauren Corporation in a research report on Friday, May 19th. Finally, Tigress Financial started coverage on shares of Ralph Lauren Corporation in a research report on Thursday, May 25th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $86.77.

Ralph Lauren Corporation 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.

Institutional Ownership by Quarter for Ralph Lauren Corporation (NYSE:RL)

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