American Century Companies Inc. boosted its position in shares of Ralph Lauren Corp (NYSE:RL) by 149.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 933,827 shares of the textile maker’s stock after acquiring an additional 559,273 shares during the period. American Century Companies Inc. owned 1.15% of Ralph Lauren worth $96,829,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in shares of Ralph Lauren in the fourth quarter valued at $373,000. Picton Mahoney Asset Management purchased a new position in Ralph Lauren during the fourth quarter worth $1,307,000. Engineers Gate Manager LP boosted its stake in Ralph Lauren by 229.6% during the fourth quarter. Engineers Gate Manager LP now owns 70,657 shares of the textile maker’s stock worth $7,326,000 after buying an additional 49,223 shares during the period. Highstreet Asset Management Inc. purchased a new position in Ralph Lauren during the fourth quarter worth $910,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Ralph Lauren during the fourth quarter worth $675,000. Institutional investors own 67.38% of the company’s stock.
Shares of Ralph Lauren Corp (NYSE RL) traded down $1.34 during mid-day trading on Friday, hitting $105.59. The stock had a trading volume of 624,261 shares, compared to its average volume of 1,190,000. The company has a current ratio of 2.07, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The firm has a market cap of $8,580.00, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 1.77 and a beta of 0.65. Ralph Lauren Corp has a twelve month low of $66.06 and a twelve month high of $119.33.
Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, February 1st. The textile maker reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.16. Ralph Lauren had a positive return on equity of 14.64% and a negative net margin of 1.33%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the company posted $1.86 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. research analysts forecast that Ralph Lauren Corp will post 5.93 EPS for the current year.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Tuesday. Cowen set a $89.00 price objective on Ralph Lauren and gave the company a “hold” rating in a report on Tuesday, October 24th. Telsey Advisory Group lifted their price objective on Ralph Lauren from $109.00 to $115.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Nomura lifted their price objective on Ralph Lauren from $92.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, Bank of America lifted their price objective on Ralph Lauren from $80.00 to $95.00 and gave the company an “underperform” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $98.05.
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About Ralph Lauren
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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