Ralph Lauren Corporation $RL Shares Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC grew its holdings in Ralph Lauren Corporation (NYSE:RL) by 348.0% during the third quarter, HoldingsChannel.com reports. The fund owned 3,279 shares of the textile maker’s stock after purchasing an additional 2,547 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Ralph Lauren were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in Ralph Lauren by 1,228.6% in the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 86 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Ralph Lauren in the second quarter valued at about $28,000. Rothschild Investment LLC raised its holdings in shares of Ralph Lauren by 61.3% during the 3rd quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock valued at $31,000 after buying an additional 38 shares during the period. MUFG Securities EMEA plc acquired a new position in Ralph Lauren during the 2nd quarter worth approximately $32,000. Finally, MAI Capital Management boosted its holdings in Ralph Lauren by 248.4% in the 3rd quarter. MAI Capital Management now owns 108 shares of the textile maker’s stock worth $34,000 after acquiring an additional 77 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RL has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on shares of Ralph Lauren from $425.00 to $410.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Zacks Research upgraded shares of Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $435.00 price target on shares of Ralph Lauren in a research note on Thursday, February 5th. Guggenheim started coverage on shares of Ralph Lauren in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, BTIG Research upped their price objective on shares of Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $388.19.

Ralph Lauren Stock Down 4.4%

Shares of NYSE:RL opened at $362.09 on Friday. The firm has a market cap of $21.92 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.49. The company has a fifty day simple moving average of $362.44 and a 200 day simple moving average of $338.64. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $389.15.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.42. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $4.82 EPS. On average, equities research analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 26th. Ralph Lauren’s payout ratio is currently 24.85%.

Insider Transactions at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the transaction, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. This trade represents a 35.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 38.34% of the stock is owned by insiders.

Ralph Lauren 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.