Ieq Capital LLC Purchases 27,693 Shares of Ralph Lauren Corporation $RL

Key Points

• Ieq Capital LLC significantly increased its stake in Ralph Lauren Corporation by 102.5% in Q1, acquiring an additional 27,693 shares, bringing its total holdings to 54,723 shares worth approximately $12.08 million.
• Ralph Lauren's stock recently reported a 0.5% increase and has a current share price of $294.81, with a market cap of $17.86 billion.
• The company announced a $1.50 billion stock repurchase program, allowing it to buy back up to 8.8% of its shares, indicating a belief that the stock is undervalued.

Ieq Capital LLC increased its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 102.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,723 shares of the textile maker's stock after purchasing an additional 27,693 shares during the period. Ieq Capital LLC owned approximately 0.09% of Ralph Lauren worth $12,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Ralph Lauren by 3.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,120,508 shares of the textile maker's stock worth $489,795,000 after buying an additional 70,544 shares during the last quarter. Invesco Ltd. raised its holdings in 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 period. Jennison Associates LLC raised its holdings in 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 acquiring an additional 79,934 shares during the period. Northern Trust Corp increased its holdings in shares of Ralph Lauren by 14.1% during the fourth quarter. Northern Trust Corp now owns 429,870 shares of the textile maker's stock worth $99,291,000 after purchasing an additional 53,241 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ralph Lauren by 1.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 311,274 shares of the textile maker's stock worth $71,898,000 after purchasing an additional 5,742 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 0.5%

RL opened at $294.81 on Thursday. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.48 and a beta of 1.53. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The company's 50-day moving average price is $287.61 and its two-hundred day moving average price is $259.65. Ralph Lauren Corporation has a twelve month low of $167.32 and a twelve month high of $306.34.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its 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. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.70 EPS. As a group, equities analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 22nd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

RL has been the topic of several analyst reports. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Evercore ISI raised their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. UBS Group raised their price target on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Telsey Advisory Group boosted their target price on shares of Ralph Lauren from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, Barclays reaffirmed an "overweight" rating and issued a $360.00 price target (up from $321.00) on shares of Ralph Lauren in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently 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.

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