Mackenzie Financial Corp Sells 5,475 Shares of Ralph Lauren Corporation $RL

Mackenzie Financial Corp trimmed its position in shares of Ralph Lauren Corporation (NYSE:RL) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,531 shares of the textile maker’s stock after selling 5,475 shares during the quarter. Mackenzie Financial Corp owned approximately 0.21% of Ralph Lauren worth $39,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RL. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren in the second quarter valued at approximately $28,000. Rothschild Investment LLC boosted its position in Ralph Lauren by 61.3% during the 3rd quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after buying an additional 38 shares during the period. MUFG Securities EMEA plc acquired a new stake in Ralph Lauren during the 2nd quarter worth approximately $32,000. MAI Capital Management grew its holdings in Ralph Lauren by 248.4% during the 3rd quarter. MAI Capital Management now owns 108 shares of the textile maker’s stock worth $34,000 after acquiring an additional 77 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Ralph Lauren by 57.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 52 shares during the period. 67.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the transaction, the chief executive officer directly owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. This trade represents a 35.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 38.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Citigroup boosted their price objective on shares of Ralph Lauren from $333.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on Ralph Lauren in a report on Thursday, January 8th. Weiss Ratings raised Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Two equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.06.

Ralph Lauren Trading Down 1.3%

NYSE:RL opened at $334.53 on Friday. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $389.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. The firm’s fifty day moving average is $360.35 and its 200-day moving average is $341.94. The firm has a market cap of $20.25 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.32 and a beta of 1.47.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.42. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. Ralph Lauren’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.82 earnings per share. Equities analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.