Itau Unibanco Holding S.A. Acquires New Holdings in Ralph Lauren Corporation $RL

Key Points

• Itau Unibanco Holding S.A. has acquired a new stake in Ralph Lauren Corporation, purchasing 3,000 shares valued at approximately $662,000 in the first quarter.
• Ralph Lauren reported $3.77 EPS for its most recent quarter, surpassing analysts' expectations of $3.50, and had a revenue increase of 13.7% year-over-year.
• The company has authorized a $1.50 billion stock buyback program, indicating confidence in its undervalued share price.

Itau Unibanco Holding S.A. bought a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,000 shares of the textile maker's stock, valued at approximately $662,000.

A number of other institutional investors have also made changes to their positions in RL. OMNI 360 Wealth Inc. acquired a new stake in Ralph Lauren in the 1st quarter valued at about $248,000. Crossmark Global Holdings Inc. grew its stake in shares of Ralph Lauren by 13.5% during the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after purchasing an additional 2,684 shares during the last quarter. Triglav Skladi D.O.O. acquired a new stake in shares of Ralph Lauren in the fourth quarter valued at approximately $10,872,000. Truist Financial Corp raised its position in Ralph Lauren by 7.8% in the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock worth $66,407,000 after purchasing an additional 21,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Ralph Lauren by 8.1% in the 1st 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 last quarter. 67.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on RL. Cowen reissued a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Bank of America raised their price target on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Evercore ISI boosted their price objective on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Cfra Research upgraded shares of Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Citigroup raised their target price on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ralph Lauren has a consensus rating of "Moderate Buy" and an average price target of $306.41.

Ralph Lauren Trading Down 0.2%

Shares of Ralph Lauren stock traded down $0.56 during trading on Friday, hitting $297.08. 578,753 shares of the company were exchanged, compared to its average volume of 727,403. The firm has a market capitalization of $17.99 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.60. Ralph Lauren Corporation has a 1-year low of $168.24 and a 1-year high of $306.34. The firm's fifty day moving average price is $288.88 and its 200 day moving average price is $259.80. 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 (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company posted $2.70 EPS. Ralph Lauren's revenue for the quarter was up 13.7% on a year-over-year basis. As a group, sell-side analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

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

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.