Alyeska Investment Group L.P. Purchases Shares of 51,225 Ralph Lauren Corporation $RL

Key Points

• Alyeska Investment Group L.P. has acquired a new stake in Ralph Lauren Corporation, purchasing 51,225 shares valued at approximately $11.3 million during the first quarter.
• Ralph Lauren reported an earnings per share of $3.77 for the last quarter, surpassing analysts' expectations of $3.50, with revenue increasing by 13.7% year-over-year.
• The stock currently has a consensus rating of Moderate Buy among analysts, with a target price averaging $306.41.

Alyeska Investment Group L.P. acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,225 shares of the textile maker's stock, valued at approximately $11,307,000. Alyeska Investment Group L.P. owned 0.08% of Ralph Lauren as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. OMNI 360 Wealth Inc. acquired a new stake in Ralph Lauren during the first quarter worth about $248,000. Crossmark Global Holdings Inc. grew its holdings in shares of Ralph Lauren by 13.5% in the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after purchasing an additional 2,684 shares in the last quarter. Triglav Skladi D.O.O. purchased a new position in Ralph Lauren in the fourth quarter worth approximately $10,872,000. Truist Financial Corp lifted its position in shares of Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock worth $66,407,000 after buying an additional 21,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Ralph Lauren by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after buying an additional 17,732 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Price Performance

NYSE:RL traded down $0.20 during mid-day trading on Wednesday, reaching $309.60. 173,515 shares of the stock were exchanged, compared to its average volume of 844,012. The business has a fifty day moving average price of $293.97 and a 200 day moving average price of $261.25. The firm has a market capitalization of $18.75 billion, a PE ratio of 24.71, a PEG ratio of 1.56 and a beta of 1.60. Ralph Lauren Corporation has a 1-year low of $170.26 and a 1-year high of $321.77. 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 (NYSE:RL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter last year, the business posted $2.70 EPS. Ralph Lauren's revenue was up 13.7% on a year-over-year basis. Research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

RL has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $360.00 target price (up from $321.00) on shares of Ralph Lauren in a research report on Friday, August 8th. Cowen reissued a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Cfra Research upgraded shares of Ralph Lauren from a "moderate sell" rating to a "hold" rating in a report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ralph Lauren presently has an average rating of "Moderate Buy" and an average target price of $307.88.

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.