Quantbot Technologies LP decreased its holdings in shares of Ralph Lauren Corp (NYSE:RL) by 74.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,944 shares of the textile maker’s stock after selling 34,719 shares during the period. Quantbot Technologies LP’s holdings in Ralph Lauren were worth $1,054,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Ralph Lauren by 378.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock worth $324,786,000 after buying an additional 3,480,135 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Ralph Lauren by 26.7% during the 2nd quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock worth $428,744,000 after buying an additional 1,225,845 shares during the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Ralph Lauren during the 3rd quarter worth about $35,440,000. Bridgewater Associates LP lifted its stake in Ralph Lauren by 3,703.5% in the 2nd quarter. Bridgewater Associates LP now owns 317,058 shares of the textile maker’s stock valued at $23,399,000 after purchasing an additional 308,722 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in Ralph Lauren by 1,850.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 276,294 shares of the textile maker’s stock valued at $20,390,000 after purchasing an additional 262,131 shares during the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.
Several research analysts have weighed in on RL shares. ValuEngine raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Cowen set a $95.00 price objective on shares of Ralph Lauren and gave the company a “hold” rating in a research note on Thursday, November 16th. TheStreet raised shares of Ralph Lauren from a “c” rating to a “b-” rating in a research note on Monday, November 6th. Barclays raised their target price on shares of Ralph Lauren from $84.00 to $87.00 and gave the company an “underweight” rating in a research report on Monday, November 6th. Finally, Citigroup raised their target price on shares of Ralph Lauren from $91.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $88.66.
Shares of Ralph Lauren Corp (RL) traded up $1.51 during trading on Wednesday, hitting $97.30. 1,173,668 shares of the company traded hands, compared to its average volume of 1,547,867. Ralph Lauren Corp has a 52 week low of $66.06 and a 52 week high of $110.42. The company has a market cap of $8,103.93, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.55 and a current ratio of 2.09.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, November 2nd. The textile maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.09. Ralph Lauren had a net margin of 1.29% and a return on equity of 14.06%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. Ralph Lauren’s quarterly revenue was down 8.6% on a year-over-year basis. equities analysts anticipate that Ralph Lauren Corp will post 5.56 EPS for the current fiscal year.
In other news, insider Valerie Hermann sold 2,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $91.22, for a total transaction of $218,928.00. Following the transaction, the insider now owns 35,028 shares in the company, valued at $3,195,254.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.93% of the company’s stock.
Ralph Lauren 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.
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