Royal Bank of Canada Has $14.13 Million Position in Ralph Lauren Corporation $RL

Royal Bank of Canada grew its holdings in Ralph Lauren Corporation (NYSE:RL) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,007 shares of the textile maker’s stock after purchasing an additional 1,926 shares during the quarter. Royal Bank of Canada owned about 0.10% of Ralph Lauren worth $14,129,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RL. MassMutual Private Wealth & Trust FSB grew its position in shares of Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Sentry Investment Management LLC grew its position in Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker’s stock worth $31,000 after buying an additional 89 shares in the last quarter. Brooklyn Investment Group grew its position in Ralph Lauren by 180.3% during the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker’s stock worth $38,000 after buying an additional 110 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Ralph Lauren during the first quarter worth about $39,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Ralph Lauren during the first quarter worth about $43,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Performance

RL stock opened at $312.72 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The company has a 50 day moving average price of $294.73 and a 200 day moving average price of $261.61. Ralph Lauren Corporation has a fifty-two week low of $170.26 and a fifty-two week high of $321.77. The stock has a market capitalization of $18.94 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.60.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping 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 analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $2.70 EPS. Ralph Lauren’s revenue was up 13.7% on a year-over-year basis. Analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

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

Analyst Upgrades and Downgrades

RL has been the topic of a number of recent research reports. Citigroup lifted their target price on Ralph Lauren from $250.00 to $295.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Zacks Research raised Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Barclays reaffirmed an “overweight” rating and set a $360.00 price objective (up from $321.00) on shares of Ralph Lauren in a report on Friday, August 8th. Finally, BMO Capital Markets lifted their price objective on Ralph Lauren from $197.00 to $205.00 and gave the company an “underperform” rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $307.88.

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.