Gotham Asset Management LLC Raises Stake in Ralph Lauren Corporation $RL

by · The Markets Daily

Gotham Asset Management LLC raised its position in shares of Ralph Lauren Corporation (NYSE:RL – Free Report) by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,420 shares of the textile maker’s stock after purchasing an additional 11,873 shares during the quarter. Gotham Asset Management LLC owned 0.18% of Ralph Lauren worth $24,153,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Ralph Lauren by 3.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,120,508 shares of the textile maker’s stock valued at $489,795,000 after purchasing an additional 70,544 shares in the last quarter. Invesco Ltd. raised its position in shares of Ralph Lauren by 22.3% during the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after buying an additional 275,391 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Ralph Lauren by 55.7% during the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after buying an additional 414,275 shares during the last quarter. Jennison Associates LLC raised its position in shares of Ralph Lauren by 16.5% during the first quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock valued at $124,870,000 after buying an additional 79,934 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ralph Lauren by 1.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 311,274 shares of the textile maker’s stock valued at $71,898,000 after buying an additional 5,742 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Trading Up 2.2%

Shares of RL opened at $320.33 on Friday. The company’s fifty day moving average is $291.84 and its 200 day moving average is $260.88. Ralph Lauren Corporation has a fifty-two week low of $169.93 and a fifty-two week high of $321.50. The stock has a market capitalization of $19.40 billion, a PE ratio of 25.59, a P/E/G ratio of 1.58 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84.

Ralph Lauren (NYSE:RL – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. Ralph Lauren’s quarterly revenue was up 13.7% on a year-over-year basis. Sell-side analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren declared that its board has authorized a share buyback plan on Thursday, May 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the textile maker to buy up to 8.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Zacks Research upgraded shares of Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Cowen reiterated a “buy” rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Finally, Evercore ISI lifted their price objective on shares of Ralph Lauren from $320.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $306.41.

View Our Latest Analysis on Ralph Lauren

Ralph Lauren Profile

(Free Report)

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.

Featured Articles