Kovitz Investment Group Partners LLC Takes Position in Ralph Lauren Corporation (NYSE:RL)

Kovitz Investment Group Partners LLC acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,300 shares of the textile maker’s stock, valued at approximately $1,277,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Intellectus Partners LLC raised its position in shares of Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock worth $107,000 after buying an additional 200 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Ralph Lauren Corporation during the first quarter valued at about $110,000. Daiwa Securities Group Inc. raised its position in Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock valued at $139,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. raised its position in Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares during the last quarter. Finally, Engine Capital Management LLC purchased a new position in Ralph Lauren Corporation during the first quarter valued at about $163,000. Institutional investors and hedge funds own 63.74% of the company’s stock.

Ralph Lauren Corporation (NYSE RL) traded down 1.38% during midday trading on Friday, hitting $84.32. The stock had a trading volume of 1,231,456 shares. The firm has a 50 day moving average of $76.88 and a 200 day moving average of $76.95. Ralph Lauren Corporation has a 52 week low of $66.06 and a 52 week high of $114.00. The firm’s market cap is $6.85 billion.

Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, beating the consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $1.06 earnings per share. Ralph Lauren Corporation’s revenue was down 13.2% compared to the same quarter last year. Equities research analysts predict that Ralph Lauren Corporation will post $5.28 EPS for the current year.

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Several research firms have issued reports on RL. Royal Bank Of Canada set a $88.00 price target on shares of Ralph Lauren Corporation and gave the stock a “hold” rating in a report on Wednesday, August 9th. Atlantic Securities upgraded shares of Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $93.00 in a research note on Wednesday, August 9th. Piper Jaffray Companies reiterated a “sell” rating and issued a $81.00 price objective on shares of Ralph Lauren Corporation in a research note on Thursday, August 10th. UBS AG reiterated a “positive” rating and issued a $90.00 price objective (up previously from $73.00) on shares of Ralph Lauren Corporation in a research note on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Ralph Lauren Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $88.56.

About Ralph Lauren Corporation

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.

Institutional Ownership by Quarter for Ralph Lauren Corporation (NYSE:RL)

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