Ralph Lauren Co. (NYSE:RL) Shares Purchased by RNC Capital Management LLC
RNC Capital Management LLC raised its position in shares of Ralph Lauren Co. (NYSE:RL) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 19,115 shares of the textile maker’s stock after acquiring an additional 440 shares during the period. RNC Capital Management LLC’s holdings in Ralph Lauren were worth $1,983,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in Ralph Lauren during the 4th quarter valued at about $311,000. Virtu Financial LLC acquired a new stake in shares of Ralph Lauren in the 3rd quarter worth approximately $680,000. Sei Investments Co. lifted its stake in shares of Ralph Lauren by 13.3% in the 3rd quarter. Sei Investments Co. now owns 215,377 shares of the textile maker’s stock worth $14,639,000 after acquiring an additional 25,209 shares during the period. Van ECK Associates Corp lifted its stake in shares of Ralph Lauren by 13.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,017 shares of the textile maker’s stock worth $205,000 after acquiring an additional 348 shares during the period. Finally, Brinker Capital Investments LLC acquired a new stake in shares of Ralph Lauren in the 3rd quarter worth approximately $463,000. 65.18% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Ralph Lauren from $85.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 16th. They noted that the move was a valuation call. UBS Group raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating in a research note on Monday. Needham & Company LLC reduced their price target on shares of Ralph Lauren from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Barclays lowered shares of Ralph Lauren from an “overweight” rating to an “equal weight” rating and set a $71.00 price target for the company. in a research note on Wednesday, October 7th. Finally, Credit Suisse Group reduced their price target on shares of Ralph Lauren from $89.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $103.26.
Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, October 29th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.50. Ralph Lauren had a net margin of 2.67% and a return on equity of 8.21%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The firm’s revenue was down 30.0% compared to the same quarter last year. Research analysts expect that Ralph Lauren Co. will post 1.19 earnings per share for the current fiscal year.
In related news, Director Michael A. George acquired 3,770 shares of the company’s stock in a transaction on Friday, October 30th. The shares were purchased at an average price of $66.51 per share, for a total transaction of $250,742.70. Following the purchase, the director now owns 10,093 shares in the company, valued at $671,285.43. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrice Louvet sold 87,069 shares of the company’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $107.86, for a total transaction of $9,391,262.34. Following the completion of the transaction, the chief executive officer now owns 323,258 shares in the company, valued at approximately $34,866,607.88. The disclosure for this sale can be found here. 35.28% of the stock is owned by insiders.
About Ralph Lauren
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 accessories, which comprise sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as 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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