Cornerstone Capital Management Holdings LLC. increased its holdings in Ralph Lauren Corp (NYSE:RL) by 391.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,621 shares of the textile maker’s stock after purchasing an additional 202,058 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.31% of Ralph Lauren worth $22,391,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Ralph Lauren by 49.7% during the third quarter. Bank of New York Mellon Corp now owns 6,587,184 shares of the textile maker’s stock valued at $581,581,000 after acquiring an additional 2,186,269 shares during the period. BlackRock Inc. boosted its holdings in Ralph Lauren by 26.7% during the second quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock valued at $428,744,000 after acquiring an additional 1,225,845 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Ralph Lauren by 35.7% during the third quarter. Jupiter Asset Management Ltd. now owns 1,550,500 shares of the textile maker’s stock valued at $136,894,000 after acquiring an additional 408,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ralph Lauren by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,436,343 shares of the textile maker’s stock valued at $127,633,000 after acquiring an additional 12,554 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Ralph Lauren by 10.8% during the second quarter. American Century Companies Inc. now owns 1,423,333 shares of the textile maker’s stock valued at $105,042,000 after acquiring an additional 139,110 shares during the period. Institutional investors own 66.98% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, October 10th. Credit Suisse Group upgraded shares of Ralph Lauren from a “neutral” rating to an “outperform” rating and set a $111.00 target price for the company in a research note on Friday, September 8th. Piper Jaffray Companies set a $81.00 target price on shares of Ralph Lauren and gave the company a “sell” rating in a research note on Thursday, October 19th. Cowen set a $95.00 target price on shares of Ralph Lauren and gave the company a “hold” rating in a research note on Thursday, November 16th. Finally, Barclays increased their target price on shares of Ralph Lauren from $84.00 to $87.00 and gave the company an “underweight” rating in a research note on Monday, November 6th. Four 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.66.
Ralph Lauren Corp (NYSE RL) traded up $2.37 during midday trading on Friday, hitting $102.34. 1,152,115 shares of the stock traded hands, compared to its average volume of 1,117,484. The firm has a market capitalization of $8,317.68, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.66. The company has a current ratio of 2.09, a quick ratio of 1.55 and a debt-to-equity ratio of 0.08. Ralph Lauren Corp has a 12 month low of $66.06 and a 12 month high of $109.74.
Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, November 2nd. The textile maker reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a net margin of 1.29% and a return on equity of 14.06%. The company’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. research analysts expect that Ralph Lauren Corp will post 5.56 earnings per share for the current year.
In other news, insider Valerie Hermann sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $91.22, for a total transaction of $218,928.00. Following the completion of the sale, the insider now owns 35,028 shares of the company’s stock, valued at $3,195,254.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 32.93% of the company’s stock.
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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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