Amundi Sells 23,735 Shares of Ralph Lauren Corporation $RL

Amundi trimmed its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 12.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,473 shares of the textile maker's stock after selling 23,735 shares during the period. Amundi owned 0.28% of Ralph Lauren worth $37,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Ralph Lauren in the 1st quarter worth $808,000. Royal Bank of Canada increased its stake in Ralph Lauren by 3.1% in the 1st quarter. Royal Bank of Canada now owns 64,007 shares of the textile maker's stock worth $14,129,000 after buying an additional 1,926 shares in the last quarter. Caption Management LLC increased its stake in Ralph Lauren by 70.0% in the 1st quarter. Caption Management LLC now owns 17,000 shares of the textile maker's stock worth $3,753,000 after buying an additional 7,000 shares in the last quarter. Nomura Holdings Inc. increased its stake in Ralph Lauren by 167.3% in the 1st quarter. Nomura Holdings Inc. now owns 3,534 shares of the textile maker's stock worth $780,000 after buying an additional 2,212 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Ralph Lauren by 4,206.3% in the 1st quarter. Panagora Asset Management Inc. now owns 116,399 shares of the textile maker's stock worth $25,694,000 after buying an additional 113,696 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

Shares of RL traded up $2.93 during midday trading on Wednesday, hitting $312.72. 630,032 shares of the company traded hands, compared to its average volume of 846,948. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. Ralph Lauren Corporation has a 52 week low of $170.26 and a 52 week high of $321.77. The firm has a 50 day moving average of $293.97 and a 200-day moving average of $261.25. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.56 and a beta of 1.60.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RL shares. Evercore ISI increased their price target on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Cfra Research upgraded Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 11th. The Goldman Sachs Group increased their price target on Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Citigroup increased their price target on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, BMO Capital Markets increased their price objective on shares of Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $307.88.

Ralph Lauren 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.