Cinctive Capital Management LP Buys New Shares in Ralph Lauren Corporation $RL

Key Points

• Cinctive Capital Management LP invested approximately $2.28 million in Ralph Lauren Corporation by acquiring 10,337 shares during the first quarter.
• Ralph Lauren reported a quarterly earnings of $3.77 EPS, exceeding expectations of $3.50, with a revenue of $1.72 billion.
• The company's board authorized a $1.50 billion stock buyback program, reflecting confidence in the stock's valuation and allowing repurchase of up to 8.8% of its shares.

Cinctive Capital Management LP bought a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,337 shares of the textile maker's stock, valued at approximately $2,282,000.

Other institutional investors have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Ralph Lauren by 3.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,120,508 shares of the textile maker's stock valued at $489,795,000 after buying an additional 70,544 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ralph Lauren by 22.3% in the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock valued at $333,958,000 after acquiring an additional 275,391 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Ralph Lauren by 55.7% in the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock valued at $245,468,000 after purchasing an additional 414,275 shares during the period. Jennison Associates LLC grew its position in shares of Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker's stock valued at $124,870,000 after purchasing an additional 79,934 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ralph Lauren by 1.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 311,274 shares of the textile maker's stock valued at $71,898,000 after purchasing an additional 5,742 shares during the period. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on RL shares. Telsey Advisory Group upped their price target on Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. UBS Group upped their price target on Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Bank of America upped their price target on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wells Fargo & Company increased their price objective on Ralph Lauren from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday. Finally, Needham & Company LLC increased their price objective on Ralph Lauren from $310.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Two investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Ralph Lauren presently has an average rating of "Moderate Buy" and a consensus target price of $307.88.

Ralph Lauren Trading Up 0.1%

Shares of Ralph Lauren stock traded up $0.34 during midday trading on Wednesday, reaching $310.13. The company had a trading volume of 202,351 shares, compared to its average volume of 844,335. The firm has a market cap of $18.78 billion, a PE ratio of 24.80, a P/E/G ratio of 1.56 and a beta of 1.60. The stock has a fifty day moving average price of $293.97 and a 200 day moving average price of $261.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. Ralph Lauren Corporation has a fifty-two week low of $170.26 and a fifty-two week high of $321.77.

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

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

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.