Ralph Lauren Corporation (RL) Stake Boosted by Tobam
Tobam boosted its position in Ralph Lauren Corporation (NYSE:RL) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,521 shares of the textile maker’s stock after buying an additional 19,657 shares during the period. Tobam owned about 0.15% of Ralph Lauren Corporation worth $6,164,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Intellectus Partners LLC raised its stake in Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock valued at $107,000 after buying an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Ralph Lauren Corporation during the first quarter valued at $110,000. Daiwa Securities Group Inc. raised its stake 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 in the last quarter. Pacer Advisors Inc. raised its stake 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 in the last quarter. Finally, Engine Capital Management LLC bought a new stake in Ralph Lauren Corporation during the first quarter valued at $163,000. Hedge funds and other institutional investors own 62.88% of the company’s stock.
Shares of Ralph Lauren Corporation (NYSE:RL) opened at 87.20 on Monday. The stock has a 50 day moving average of $78.51 and a 200 day moving average of $77.11. Ralph Lauren Corporation has a 1-year low of $66.06 and a 1-year high of $114.00. The company’s market cap is $7.09 billion.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company’s revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. On average, equities analysts forecast that Ralph Lauren Corporation will post $5.28 EPS for the current year.
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RL has been the subject of several research analyst reports. BidaskClub upgraded shares of Ralph Lauren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $75.00 price objective on shares of Ralph Lauren Corporation in a research note on Friday, July 7th. ValuEngine lowered shares of Ralph Lauren Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Cowen and Company reiterated a “hold” rating and issued a $80.00 price objective (up previously from $78.00) on shares of Ralph Lauren Corporation in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ralph Lauren Corporation currently has an average rating of “Hold” and a consensus 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.
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