BNP Paribas Arbitrage SA increased its stake in Ralph Lauren Corp (NYSE:RL) by 120.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,562 shares of the textile maker’s stock after buying an additional 58,751 shares during the period. BNP Paribas Arbitrage SA owned about 0.13% of Ralph Lauren Corp worth $8,779,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in Ralph Lauren Corp during the third quarter worth $227,962,000. FMR LLC increased its position in shares of Ralph Lauren Corp by 73.6% in the fourth quarter. FMR LLC now owns 2,386,921 shares of the textile maker’s stock valued at $215,586,000 after buying an additional 1,012,185 shares during the last quarter. Norges Bank purchased a new position in shares of Ralph Lauren Corp during the fourth quarter valued at approximately $71,499,000. Investec Asset Management LTD purchased a new position in shares of Ralph Lauren Corp during the fourth quarter valued at approximately $51,789,000. Finally, Poplar Forest Capital LLC purchased a new position in shares of Ralph Lauren Corp during the third quarter valued at approximately $45,002,000. Institutional investors and hedge funds own 62.15% of the company’s stock.
Ralph Lauren Corp (NYSE:RL) traded down 2.93% during mid-day trading on Friday, reaching $69.29. 4,194,734 shares of the company traded hands. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 39.62 and a beta of 0.88. Ralph Lauren Corp has a 52 week low of $68.23 and a 52 week high of $114.00. The stock’s 50 day moving average price is $79.63 and its 200 day moving average price is $88.06.
Ralph Lauren Corp (NYSE:RL) last announced its quarterly earnings data on Thursday, May 18th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Ralph Lauren Corp had a return on equity of 13.14% and a net margin of 2.10%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. Equities analysts forecast that Ralph Lauren Corp will post $5.15 EPS for the current year.
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Several brokerages recently commented on RL. Piper Jaffray Companies set a $66.00 price target on shares of Ralph Lauren Corp and gave the company a “sell” rating in a report on Friday. Telsey Advisory Group lowered their price objective on shares of Ralph Lauren Corp from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Friday. Cowen and Company reissued a “market perform” rating and issued a $78.00 price objective (down from $84.00) on shares of Ralph Lauren Corp in a research report on Friday. Vetr cut shares of Ralph Lauren Corp from a “buy” rating to a “hold” rating and set a $81.53 price objective for the company. in a research report on Wednesday, March 15th. Finally, Zacks Investment Research raised shares of Ralph Lauren Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. Ralph Lauren Corp currently has a consensus rating of “Hold” and a consensus price target of $96.35.
About Ralph Lauren Corp
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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