Los Angeles Capital Management & Equity Research Inc. Has $5.93 Million Position in Ralph Lauren Corp (NYSE:RL)
Los Angeles Capital Management & Equity Research Inc. grew its stake in Ralph Lauren Corp (NYSE:RL) by 14.8% during the second quarter, HoldingsChannel reports. The firm owned 52,232 shares of the textile maker’s stock after buying an additional 6,730 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Ralph Lauren were worth $5,933,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in Ralph Lauren by 291.9% in the 1st quarter. Marshall Wace LLP now owns 735,437 shares of the textile maker’s stock valued at $95,371,000 after buying an additional 547,787 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in Ralph Lauren by 323.4% in the 1st quarter. Marshall Wace North America L.P. now owns 257,893 shares of the textile maker’s stock valued at $33,444,000 after buying an additional 196,988 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Ralph Lauren in the 1st quarter valued at approximately $18,361,000. Victory Capital Management Inc. raised its holdings in Ralph Lauren by 12,847.0% in the 1st quarter. Victory Capital Management Inc. now owns 105,518 shares of the textile maker’s stock valued at $13,684,000 after buying an additional 104,703 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ralph Lauren by 5.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,723,377 shares of the textile maker’s stock valued at $223,489,000 after buying an additional 94,638 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
A number of brokerages recently issued reports on RL. Bank of America dropped their price objective on shares of Ralph Lauren from $114.00 to $108.00 and set an “underperform” rating for the company in a report on Wednesday, May 15th. Credit Suisse Group dropped their price objective on shares of Ralph Lauren from $158.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. OTR Global upgraded shares of Ralph Lauren to a “positive” rating in a report on Friday, April 26th. Royal Bank of Canada set a $128.00 price objective on shares of Ralph Lauren and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank dropped their price objective on shares of Ralph Lauren from $160.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $131.00.
Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Ralph Lauren had a net margin of 6.91% and a return on equity of 18.33%. Ralph Lauren’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 EPS. Equities research analysts anticipate that Ralph Lauren Corp will post 7.73 EPS for the current fiscal year.
In other news, major shareholder Family L.L.C. Lauren sold 71,428 shares of Ralph Lauren stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $112.22, for a total value of $8,015,650.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 428,568 shares of company stock valued at $46,648,913 in the last quarter. 34.26% of the stock is currently owned by company insiders.
Ralph Lauren Profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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