Commonwealth Bank of Australia boosted its stake in Ralph Lauren Corp (NYSE:RL) by 30.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,443 shares of the textile maker’s stock after purchasing an additional 4,500 shares during the quarter. Commonwealth Bank of Australia’s holdings in Ralph Lauren were worth $1,711,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department grew its holdings in Ralph Lauren by 109.3% in the third quarter. State of Tennessee Treasury Department now owns 31,558 shares of the textile maker’s stock valued at $2,786,000 after purchasing an additional 16,483 shares during the period. Hosking Partners LLP grew its holdings in Ralph Lauren by 1.6% in the second quarter. Hosking Partners LLP now owns 174,161 shares of the textile maker’s stock valued at $12,853,000 after purchasing an additional 2,815 shares during the period. FMR LLC grew its holdings in Ralph Lauren by 2.9% in the second quarter. FMR LLC now owns 364,123 shares of the textile maker’s stock valued at $26,872,000 after purchasing an additional 10,180 shares during the period. QS Investors LLC grew its holdings in Ralph Lauren by 3,044.4% in the second quarter. QS Investors LLC now owns 12,892 shares of the textile maker’s stock valued at $951,000 after purchasing an additional 12,482 shares during the period. Finally, American International Group Inc. grew its holdings in Ralph Lauren by 3.7% in the third quarter. American International Group Inc. now owns 176,529 shares of the textile maker’s stock valued at $15,586,000 after purchasing an additional 6,264 shares during the period. Hedge funds and other institutional investors own 66.98% of the company’s stock.
A number of research analysts have weighed in on RL shares. Piper Jaffray Companies reaffirmed a “sell” rating and set a $81.00 price target on shares of Ralph Lauren in a research report on Thursday, August 10th. UBS reaffirmed a “positive” rating and set a $90.00 price target (up from $73.00) on shares of Ralph Lauren in a research report on Wednesday, August 9th. Atlantic Securities raised shares of Ralph Lauren from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $93.00 in a research report on Wednesday, August 9th. Royal Bank Of Canada set a $88.00 price target on shares of Ralph Lauren and gave the company a “hold” rating in a research report on Wednesday, August 9th. Finally, BidaskClub raised shares of Ralph Lauren from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Ralph Lauren currently has an average rating of “Hold” and a consensus price target of $88.66.
Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, November 2nd. The textile maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.09. Ralph Lauren had a net margin of 1.29% and a return on equity of 14.06%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. sell-side analysts predict that Ralph Lauren Corp will post 5.56 earnings per share for the current year.
In other news, insider Valerie Hermann sold 2,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $91.22, for a total transaction of $218,928.00. Following the completion of the transaction, the insider now owns 35,028 shares in the company, valued at $3,195,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.93% of the stock is currently owned by corporate insiders.
Ralph Lauren Profile
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.
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