III Capital Management Invests $1.65 Million in Ralph Lauren Corporation $RL

III Capital Management bought a new stake in Ralph Lauren Corporation (NYSE:RL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the textile maker’s stock, valued at approximately $1,646,000.

A number of other hedge funds have also recently added to or reduced their stakes in RL. JPMorgan Chase & Co. grew its position in Ralph Lauren by 13.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after purchasing an additional 117,494 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Ralph Lauren by 31.5% during the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock worth $37,778,000 after buying an additional 40,977 shares during the period. Signal Advisors Wealth LLC purchased a new position in shares of Ralph Lauren during the second quarter worth about $309,000. Wealthfront Advisers LLC purchased a new position in shares of Ralph Lauren during the second quarter worth about $286,000. Finally, Prudential PLC acquired a new position in Ralph Lauren in the 2nd quarter valued at about $1,630,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Performance

Shares of RL opened at $370.58 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $374.62. The company has a 50-day simple moving average of $337.35 and a 200-day simple moving average of $307.62. The company has a market capitalization of $22.47 billion, a PE ratio of 27.39, a P/E/G ratio of 1.78 and a beta of 1.52.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.34. Ralph Lauren had a net margin of 11.28% and a return on equity of 36.18%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on RL. Guggenheim started coverage on Ralph Lauren in a research note on Tuesday. They issued a “neutral” rating on the stock. TD Cowen increased their price target on Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Barclays boosted their price objective on shares of Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Evercore ISI raised their target price on shares of Ralph Lauren from $340.00 to $375.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Ralph Lauren from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $352.13.

Ralph Lauren Company Profile

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.