Aviva PLC Reduces Holdings in Ralph Lauren Corp (RL)
Aviva PLC reduced its position in Ralph Lauren Corp (NYSE:RL) by 21.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,642 shares of the textile maker’s stock after selling 5,792 shares during the period. Aviva PLC’s holdings in Ralph Lauren were worth $2,136,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of RL. First Trust Advisors LP purchased a new stake in shares of Ralph Lauren during the third quarter worth $706,000. US Bancorp DE grew its holdings in shares of Ralph Lauren by 55.9% during the third quarter. US Bancorp DE now owns 7,260 shares of the textile maker’s stock worth $998,000 after buying an additional 2,602 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Ralph Lauren during the third quarter worth $206,000. Janney Montgomery Scott LLC purchased a new stake in shares of Ralph Lauren during the third quarter worth $245,000. Finally, ING Groep NV grew its holdings in shares of Ralph Lauren by 101.4% during the third quarter. ING Groep NV now owns 15,126 shares of the textile maker’s stock worth $2,081,000 after buying an additional 7,615 shares in the last quarter. 65.84% of the stock is currently owned by institutional investors.
In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $126.00, for a total value of $252,000.00. Following the transaction, the director now owns 7,278 shares of the company’s stock, valued at $917,028. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Valerie Hermann sold 10,400 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $126.15, for a total transaction of $1,311,960.00. Following the completion of the transaction, the insider now directly owns 38,340 shares in the company, valued at approximately $4,836,591. The disclosure for this sale can be found here. Insiders own 32.49% of the company’s stock.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Tuesday, February 5th. The textile maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.17. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Ralph Lauren had a net margin of 6.95% and a return on equity of 16.85%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. As a group, analysts forecast that Ralph Lauren Corp will post 7.03 earnings per share for the current year.
A number of equities research analysts have recently issued reports on RL shares. UBS Group raised shares of Ralph Lauren from a “sell” rating to a “neutral” rating in a report on Monday, January 7th. Telsey Advisory Group raised shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Thursday, January 31st. Needham & Company LLC raised shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Thursday, January 10th. Wells Fargo & Co dropped their target price on shares of Ralph Lauren from $130.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, January 2nd. Finally, Buckingham Research raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating in a report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Ralph Lauren presently has an average rating of “Hold” and a consensus target price of $135.06.
Ralph Lauren Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
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