Westpac Banking Corp increased its position in Ralph Lauren Corporation (NYSE:RL) by 2,090.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,402 shares of the textile maker’s stock after purchasing an additional 66,233 shares during the period. Westpac Banking Corp owned approximately 0.09% of Ralph Lauren Corporation worth $6,128,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Ralph Lauren Corporation by 26.7% during the 2nd quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock valued at $428,744,000 after purchasing an additional 1,225,845 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ralph Lauren Corporation by 378.0% in the second quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock worth $324,786,000 after buying an additional 3,480,135 shares during the last quarter. American Century Companies Inc. lifted its position in Ralph Lauren Corporation by 10.8% in the second quarter. American Century Companies Inc. now owns 1,423,333 shares of the textile maker’s stock worth $105,042,000 after buying an additional 139,110 shares during the last quarter. Global Thematic Partners LLC lifted its position in Ralph Lauren Corporation by 13.3% in the second quarter. Global Thematic Partners LLC now owns 681,935 shares of the textile maker’s stock worth $50,327,000 after buying an additional 79,864 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ralph Lauren Corporation by 45.8% in the second quarter. Dimensional Fund Advisors LP now owns 618,317 shares of the textile maker’s stock worth $45,630,000 after purchasing an additional 194,350 shares during the period. Institutional investors and hedge funds own 66.46% of the company’s stock.
In other Ralph Lauren Corporation news, insider Valerie Hermann sold 2,400 shares of Ralph Lauren Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $91.22, for a total transaction of $218,928.00. Following the transaction, the insider now directly owns 35,028 shares of the company’s stock, valued at $3,195,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 32.93% of the company’s stock.
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Shares of Ralph Lauren Corporation (NYSE:RL) opened at $86.67 on Tuesday. The company has a market cap of $7,039.73, a price-to-earnings ratio of 14.81, a PEG ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.09 and a quick ratio of 1.55. Ralph Lauren Corporation has a 12 month low of $66.06 and a 12 month high of $114.00.
Ralph Lauren Corporation (NYSE:RL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.09. Ralph Lauren Corporation had a net margin of 1.29% and a return on equity of 14.06%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $1.90 earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. sell-side analysts anticipate that Ralph Lauren Corporation will post 5.61 earnings per share for the current year.
Several equities analysts have issued reports on the company. TheStreet upgraded Ralph Lauren Corporation from a “c” rating to a “b-” rating in a research note on Monday, November 6th. Macquarie raised Ralph Lauren Corporation to a “buy” rating and increased their target price for the stock from $96.00 to $100.00 in a research note on Tuesday, September 5th. Zacks Investment Research raised Ralph Lauren Corporation from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, October 10th. Citigroup Inc. raised their price objective on Ralph Lauren Corporation from $91.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, Morgan Stanley upped their target price on Ralph Lauren Corporation from $83.50 to $91.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $88.77.
Ralph Lauren Corporation Profile
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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