Ralph Lauren Corporation $RL Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Ralph Lauren Corporation by 27.6%, selling 9,244 shares and bringing its total holdings to 24,208 shares valued at approximately $5.34 million.
• Ralph Lauren has reported an impressive quarterly earnings result with an EPS of $3.77, surpassing analysts' expectations of $3.50, reflecting a 13.7% increase in revenue year-over-year.
• Ralph Lauren has announced a $1.5 billion share repurchase plan, indicating the board's belief that the company's stock is currently undervalued.

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,208 shares of the textile maker's stock after selling 9,244 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ralph Lauren were worth $5,344,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Ralph Lauren by 93.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after acquiring an additional 89 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Ralph Lauren by 180.3% in the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ralph Lauren in the 1st quarter worth approximately $39,000. Finally, Parallel Advisors LLC grew its position in shares of Ralph Lauren by 74.4% in the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Stock Performance

NYSE:RL traded up $0.4160 during midday trading on Friday, reaching $285.8760. 594,401 shares of the company traded hands, compared to its average volume of 745,843. Ralph Lauren Corporation has a twelve month low of $167.32 and a twelve month high of $306.34. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.53. 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 fifty day moving average price of $286.16 and a 200 day moving average price of $259.14.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $2.70 EPS. The firm's quarterly revenue was up 13.7% on a year-over-year basis. On average, analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren declared that its Board of Directors has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

RL has been the subject of several research reports. Telsey Advisory Group lifted their target price on Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. BMO Capital Markets lifted their target price on Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Wells Fargo & Company boosted their price objective on Ralph Lauren from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI boosted their price objective on Ralph Lauren from $320.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and an average price target of $306.41.

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.