Atreides Management LP Sells 54,176 Shares of Ralph Lauren Corporation $RL

Key Points

• Atreides Management LP cut its stake in Ralph Lauren by 30.2%, selling 54,176 shares and finishing the quarter with 125,100 shares worth about $39.2 million (0.21% of the company).
• CEO Patrice Louvet sold 47,000 shares on Feb. 10 at an average price of $354.22 for roughly $16.65 million, reducing his holding by 35.46% to 85,552 shares.
• Ralph Lauren beat quarterly expectations (EPS $6.22 vs. $5.80; revenue $2.41B, up 12.2% YoY) and has an average analyst rating of Moderate Buy with a $389.06 average price target.

Atreides Management LP cut its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 30.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,100 shares of the textile maker's stock after selling 54,176 shares during the quarter. Atreides Management LP owned 0.21% of Ralph Lauren worth $39,226,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Ralph Lauren by 13.2% in the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker's stock worth $276,407,000 after buying an additional 117,494 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Ralph Lauren by 18.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker's stock valued at $10,147,000 after acquiring an additional 5,075 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Ralph Lauren by 7.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 265,601 shares of the textile maker's stock valued at $83,282,000 after acquiring an additional 18,355 shares during the period. Winnow Wealth LLC bought a new position in Ralph Lauren during the 3rd quarter worth approximately $899,000. Finally, Rakuten Investment Management Inc. bought a new position in Ralph Lauren during the 3rd quarter worth approximately $86,719,000. Hedge funds and other institutional investors own 67.91% of the company's stock.

Ralph Lauren Price Performance

Shares of Ralph Lauren stock opened at $330.43 on Friday. The business has a 50 day moving average of $359.71 and a 200 day moving average of $342.58. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $389.15. The company has a market cap of $20.00 billion, a PE ratio of 22.49, a P/E/G ratio of 1.29 and a beta of 1.47. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 0.50.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.30 billion. During the same quarter in the previous year, the business posted $4.82 earnings per share. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Analyst Ratings Changes

RL has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on Ralph Lauren from $425.00 to $410.00 and set a "buy" rating for the company in a research report on Friday, February 6th. BTIG Research raised their target price on shares of Ralph Lauren from $400.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Argus lifted their target price on shares of Ralph Lauren from $360.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft set a $422.00 price target on shares of Ralph Lauren in a report on Thursday, January 8th. Finally, Citigroup increased their price target on shares of Ralph Lauren from $333.00 to $360.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Two 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $389.06.

Insider Buying and Selling at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the sale, the chief executive officer owned 85,552 shares of the company's stock, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 38.34% of the company's stock.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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