Ralph Lauren Corp (NYSE:RL) Short Interest Update
Ralph Lauren Corp (NYSE:RL) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 4,383,600 shares, a decline of 15.2% from the June 30th total of 5,171,300 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 8.4% of the company’s stock are sold short.
In other Ralph Lauren news, major shareholder Family L.L.C. Lauren sold 71,428 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $101.65, for a total value of $7,260,656.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 428,568 shares of company stock worth $46,648,913 in the last 90 days. Corporate insiders own 34.26% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Ralph Lauren by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 922,088 shares of the textile maker’s stock valued at $95,271,000 after purchasing an additional 58,183 shares in the last quarter. DNB Asset Management AS acquired a new position in shares of Ralph Lauren during the first quarter worth $2,134,000. Fruth Investment Management acquired a new position in shares of Ralph Lauren during the first quarter worth $233,000. Centre Asset Management LLC increased its holdings in shares of Ralph Lauren by 3.5% during the first quarter. Centre Asset Management LLC now owns 45,120 shares of the textile maker’s stock worth $5,851,000 after buying an additional 1,520 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new position in shares of Ralph Lauren during the first quarter worth $351,000. 65.51% of the stock is owned by institutional investors and hedge funds.
Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. Ralph Lauren had a return on equity of 18.33% and a net margin of 6.91%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Ralph Lauren will post 7.73 earnings per share for the current year.
A number of brokerages have commented on RL. JPMorgan Chase & Co. downgraded Ralph Lauren from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $130.00 price target (down previously from $155.00) on shares of Ralph Lauren in a research note on Wednesday, July 31st. OTR Global upgraded Ralph Lauren to a “positive” rating in a research note on Friday, April 26th. ValuEngine downgraded Ralph Lauren from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, TheStreet downgraded Ralph Lauren from a “b” rating to a “c+” rating in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $131.00.
Ralph Lauren Company 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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