Landscape Capital Management L.L.C. purchased a new position in Ralph Lauren Co. (NYSE:RL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,114 shares of the textile maker’s stock, valued at approximately $945,000.
A number of other hedge funds have also bought and sold shares of RL. BlackRock Inc. boosted its stake in Ralph Lauren by 32.4% in the 3rd quarter. BlackRock Inc. now owns 6,188,987 shares of the textile maker’s stock worth $420,668,000 after purchasing an additional 1,514,706 shares during the period. Royce & Associates LP boosted its stake in Ralph Lauren by 255.9% in the 4th quarter. Royce & Associates LP now owns 615,590 shares of the textile maker’s stock worth $63,861,000 after purchasing an additional 442,622 shares during the period. Samlyn Capital LLC bought a new position in Ralph Lauren in the 3rd quarter worth approximately $20,891,000. AQR Capital Management LLC boosted its stake in Ralph Lauren by 22.6% in the 3rd quarter. AQR Capital Management LLC now owns 832,588 shares of the textile maker’s stock worth $56,591,000 after purchasing an additional 153,651 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Ralph Lauren by 15.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,058,470 shares of the textile maker’s stock worth $109,833,000 after purchasing an additional 144,736 shares during the period. Institutional investors and hedge funds own 65.35% of the company’s stock.
In other news, EVP Andrew Howard Smith sold 12,327 shares of the stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $100.00, for a total transaction of $1,232,700.00. Following the transaction, the executive vice president now owns 87,194 shares of the company’s stock, valued at approximately $8,719,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrice Louvet sold 29,023 shares of the stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $115.00, for a total value of $3,337,645.00. Following the transaction, the chief executive officer now directly owns 210,021 shares in the company, valued at approximately $24,152,415. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,419 shares of company stock worth $13,961,607. Insiders own 35.28% of the company’s stock.
Ralph Lauren (NYSE:RL) last released its earnings results on Wednesday, February 3rd. The textile maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. Ralph Lauren had a positive return on equity of 5.14% and a negative net margin of 1.74%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm posted $2.86 earnings per share. The business’s revenue was down 18.2% compared to the same quarter last year. Research analysts expect that Ralph Lauren Co. will post 1.28 EPS for the current year.
Several brokerages have recently issued reports on RL. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Ralph Lauren from a “neutral” rating to a “buy” rating and set a $134.00 price objective on the stock in a report on Friday, December 11th. JPMorgan Chase & Co. upped their price objective on Ralph Lauren from $83.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, January 7th. Royal Bank of Canada raised Ralph Lauren from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $77.00 to $138.00 in a report on Friday, January 15th. UBS Group raised Ralph Lauren from a “neutral” rating to a “buy” rating in a report on Monday, January 11th. Finally, Smith Barney Citigroup raised Ralph Lauren from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $134.00 in a report on Friday, December 11th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $110.78.
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 accessories, which comprise sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
Further Reading: Special Purpose Acquisition Company (SPAC)
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