Edgestream Partners L.P. Buys New Position in Ralph Lauren Corp (NYSE:RL)

Edgestream Partners L.P. purchased a new position in shares of Ralph Lauren Corp (NYSE:RL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,457 shares of the textile maker’s stock, valued at approximately $961,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RL. OMERS ADMINISTRATION Corp increased its position in Ralph Lauren by 981.6% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the textile maker’s stock worth $6,102,000 after purchasing an additional 48,100 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Ralph Lauren in the 2nd quarter valued at about $829,000. Acadian Asset Management LLC purchased a new stake in Ralph Lauren in the 2nd quarter valued at about $875,000. Sciencast Management LP purchased a new stake in Ralph Lauren in the 2nd quarter valued at about $711,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Ralph Lauren by 14.4% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,901 shares of the textile maker’s stock valued at $1,011,000 after buying an additional 1,118 shares during the period. 65.70% of the stock is owned by hedge funds and other institutional investors.

NYSE:RL opened at $102.26 on Friday. Ralph Lauren Corp has a 1 year low of $82.69 and a 1 year high of $139.56. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.78 and a beta of 0.88. The business has a fifty day moving average of $93.89 and a 200-day moving average of $113.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.68 and a current ratio of 2.30.

Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Ralph Lauren Corp will post 7.7 EPS for the current year.

Several research firms have commented on RL. Bank of America lowered their price target on Ralph Lauren from $98.00 to $76.00 and set an “underperform” rating for the company in a report on Monday, August 26th. Royal Bank of Canada set a $128.00 target price on Ralph Lauren and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine lowered Ralph Lauren from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Credit Suisse Group reduced their price target on Ralph Lauren from $158.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $83.00 target price on Ralph Lauren and gave the company a “hold” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $127.56.

In other news, major shareholder Family L.L.C. Lauren sold 107,142 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $99.74, for a total value of $10,686,343.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 428,568 shares of company stock valued at $44,841,070. Company insiders own 34.26% of the company’s stock.

About Ralph Lauren

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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Institutional Ownership by Quarter for Ralph Lauren (NYSE:RL)

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