Keybank National Association OH reduced its stake in Ralph Lauren Corp (NYSE:RL) by 12.6% during the fourth quarter, Holdings Channel reports. The fund owned 19,671 shares of the textile maker’s stock after selling 2,830 shares during the quarter. Keybank National Association OH’s holdings in Ralph Lauren were worth $2,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Retirement Systems of Alabama increased its holdings in Ralph Lauren by 6.3% in the 4th quarter. Retirement Systems of Alabama now owns 152,346 shares of the textile maker’s stock valued at $15,797,000 after acquiring an additional 9,078 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in Ralph Lauren in the 4th quarter valued at $2,427,000. Sentry Investment Management LLC increased its holdings in Ralph Lauren by 3.5% in the 4th quarter. Sentry Investment Management LLC now owns 39,227 shares of the textile maker’s stock valued at $4,067,000 after acquiring an additional 1,315 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new stake in Ralph Lauren in the 4th quarter valued at $259,000. Finally, River & Mercantile Asset Management LLP bought a new stake in Ralph Lauren in the 4th quarter valued at $1,296,000. Institutional investors own 67.38% of the company’s stock.
RL has been the topic of a number of research reports. Cowen set a $89.00 price target on shares of Ralph Lauren and gave the company a “hold” rating in a report on Tuesday, October 24th. Morgan Stanley lifted their price target on shares of Ralph Lauren from $83.50 to $91.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Citigroup lifted their price target on shares of Ralph Lauren from $91.00 to $98.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Barclays lifted their price target on shares of Ralph Lauren from $84.00 to $87.00 and gave the company an “underweight” rating in a report on Monday, November 6th. Finally, TheStreet upgraded shares of Ralph Lauren from a “c” rating to a “b-” rating in a report on Monday, November 6th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $98.05.
Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, February 1st. The textile maker reported $2.03 EPS for the quarter, beating the consensus estimate of $1.87 by $0.16. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 EPS. research analysts anticipate that Ralph Lauren Corp will post 5.93 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Keybank National Association OH Trims Holdings in Ralph Lauren Corp (RL)” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2018/02/19/keybank-national-association-oh-trims-holdings-in-ralph-lauren-corp-rl.html.
About Ralph Lauren
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.
Want to see what other hedge funds are holding RL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ralph Lauren Corp (NYSE:RL).
Receive News & Ratings for Ralph Lauren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ralph Lauren and related companies with MarketBeat.com's FREE daily email newsletter.