State of Tennessee Treasury Department increased its stake in shares of Ralph Lauren Corp (NYSE:RL) by 7.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,866 shares of the textile maker’s stock after buying an additional 839 shares during the quarter. State of Tennessee Treasury Department’s holdings in Ralph Lauren were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pensionfund DSM Netherlands bought a new stake in Ralph Lauren during the 2nd quarter valued at $2,272,000. Pensionfund Sabic bought a new stake in shares of Ralph Lauren during the second quarter worth about $1,477,000. WINTON GROUP Ltd bought a new stake in Ralph Lauren during the 2nd quarter worth approximately $433,000. Empowered Funds LLC bought a new stake in Ralph Lauren during the 2nd quarter worth approximately $2,194,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in Ralph Lauren by 28.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 3,581 shares of the textile maker’s stock worth $407,000 after buying an additional 803 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, 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 transaction of $1,138,400.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Family L.L.C. Lauren sold 107,142 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $99.74, for a total value of $10,686,343.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,140 shares of company stock valued at $34,821,702. 34.26% of the stock is owned by company insiders.
RL has been the subject of several recent research reports. Atlantic Securities upgraded Ralph Lauren from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $135.00 to $138.00 in a report on Tuesday, September 24th. They noted that the move was a valuation call. Royal Bank of Canada set a $128.00 target price on shares of Ralph Lauren and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered shares of Ralph Lauren from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Barclays assumed coverage on shares of Ralph Lauren in a research note on Tuesday. They issued an “overweight” rating and a $130.00 target price for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $130.00 target price (down previously from $155.00) on shares of Ralph Lauren in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $129.00.
NYSE:RL traded down $0.70 during trading on Wednesday, reaching $110.66. The company’s stock had a trading volume of 1,243,568 shares, compared to its average volume of 1,122,923. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 4.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.37 and a current ratio of 1.95. The firm has a 50 day moving average of $96.69 and a 200-day moving average of $104.40. Ralph Lauren Corp has a 12 month low of $82.69 and a 12 month high of $133.63.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.16. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Ralph Lauren had a return on equity of 19.52% and a net margin of 7.08%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.26 EPS. Equities research analysts forecast that Ralph Lauren Corp will post 7.67 earnings per share for the current fiscal year.
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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