926 Shares in Ralph Lauren Corporation $RL Purchased by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP has invested $204,000 in Ralph Lauren Corporation by acquiring 926 shares during the first quarter, according to an SEC filing.
• Ralph Lauren posted a strong earnings report with an EPS of $3.77, exceeding expectations, and experienced a year-over-year revenue increase of 13.7%.
• The company has authorized a stock buyback program of up to $1.50 billion, indicating management's belief that the stock is undervalued.

DoubleLine ETF Adviser LP acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 926 shares of the textile maker's stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Ralph Lauren by 178.0% during the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after purchasing an additional 89 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Ralph Lauren during the 1st quarter valued at about $33,000. Brooklyn Investment Group lifted its holdings in shares of Ralph Lauren by 180.3% during the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock valued at $38,000 after purchasing an additional 110 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Ralph Lauren in the 1st quarter valued at approximately $39,000. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 0.2%

NYSE:RL traded up $0.66 on Wednesday, hitting $310.45. The stock had a trading volume of 222,701 shares, compared to its average volume of 844,506. The business's fifty day moving average is $293.97 and its 200 day moving average is $261.25. The company has a market cap of $18.80 billion, a PE ratio of 24.80, a P/E/G ratio of 1.56 and a beta of 1.60. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 52 week low of $170.26 and a 52 week high of $321.77.

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 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $2.70 earnings per share. Ralph Lauren's revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays reissued an "overweight" rating and issued a $360.00 target price (up previously from $321.00) on shares of Ralph Lauren in a research report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Telsey Advisory Group upped their price objective on Ralph Lauren from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, August 4th. The Goldman Sachs Group upped their target price on Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group upped their target price on Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Two 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. Based on 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.