Clark Capital Management Group Inc. Sells 3,569 Shares of Ralph Lauren Corporation $RL

Key Points

• Clark Capital Management Group Inc. reduced its stake in Ralph Lauren by 1.5%, owning 233,883 shares valued at approximately $51.6 million after selling 3,569 shares.
• Ralph Lauren's recent earnings report showed $3.77 earnings per share, surpassing analyst estimates of $3.50, with year-over-year revenue growth of 13.7%.
• The company has authorized a $1.5 billion share repurchase plan, indicating management's belief that its shares are undervalued.

Clark Capital Management Group Inc. reduced its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233,883 shares of the textile maker's stock after selling 3,569 shares during the quarter. Clark Capital Management Group Inc. owned about 0.38% of Ralph Lauren worth $51,627,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. OMNI 360 Wealth Inc. bought a new position in Ralph Lauren in the 1st quarter valued at about $248,000. Crossmark Global Holdings Inc. raised its holdings in Ralph Lauren by 13.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares during the period. Triglav Skladi D.O.O. bought a new position in Ralph Lauren in the 4th quarter valued at about $10,872,000. Truist Financial Corp raised its holdings in Ralph Lauren by 7.8% in the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after acquiring an additional 21,681 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Ralph Lauren by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after purchasing an additional 17,732 shares during the period. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Trading Down 0.5%

Shares of NYSE:RL traded down $1.58 during mid-day trading on Tuesday, reaching $307.42. 172,117 shares of the company's stock were exchanged, compared to its average volume of 846,290. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.58 and a beta of 1.60. The business's fifty day moving average price is $293.24 and its 200-day moving average price is $260.91. 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 twelve month low of $169.93 and a twelve month high of $321.77.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its 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 net margin of 10.91% and a return on equity of 33.72%. The business 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 earnings per share. Ralph Lauren's quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

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

Analyst Ratings Changes

RL has been the topic of several recent research reports. Citigroup raised their target price on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company raised their target price on shares of Ralph Lauren from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday. Evercore ISI raised their target price on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Zacks Research raised shares of Ralph Lauren to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Ralph Lauren in a research note on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $307.88.

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.