Canada Pension Plan Investment Board Reduces Stock Holdings in Ralph Lauren Corporation $RL

Canada Pension Plan Investment Board reduced its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,100 shares of the textile maker’s stock after selling 23,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Ralph Lauren were worth $15,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RL. State of Wyoming grew its stake in shares of Ralph Lauren by 462.3% during the first quarter. State of Wyoming now owns 2,176 shares of the textile maker’s stock worth $480,000 after acquiring an additional 1,789 shares during the last quarter. Trexquant Investment LP boosted its stake in Ralph Lauren by 509.5% in the 1st quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker’s stock worth $34,891,000 after purchasing an additional 132,128 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Ralph Lauren during the 1st quarter worth approximately $662,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Ralph Lauren during the 1st quarter valued at approximately $2,861,000. Finally, Lodge Hill Capital LLC acquired a new stake in shares of Ralph Lauren during the first quarter worth $11,397,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RL. Citigroup upped their target price on Ralph Lauren from $250.00 to $295.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. UBS Group raised their price objective on Ralph Lauren from $385.00 to $404.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Wells Fargo & Company lifted their target price on Ralph Lauren from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Evercore ISI increased their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, Wall Street Zen cut shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $306.41.

Ralph Lauren Trading Down 0.2%

Shares of NYSE:RL opened at $297.08 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 12-month low of $168.24 and a 12-month high of $306.34. The business has a 50 day moving average of $289.41 and a two-hundred day moving average of $259.90. The company has a market capitalization of $17.99 billion, a PE ratio of 23.73, a PEG ratio of 1.50 and a beta of 1.60.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $2.70 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren declared that its Board of Directors has authorized a share repurchase program on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.