Jain Global LLC Acquires Shares of 37,638 Ralph Lauren Corporation $RL

Key Points

• Jain Global LLC opened a new position of 37,638 shares in Ralph Lauren during Q3, worth about $11.8 million (roughly 0.06% ownership) per its 13F filing.
• CEO Patrice Louvet sold 47,000 shares at an average price of $354.22 for about $16.65 million, a 35.46% reduction in his stake, while corporate insiders still own 38.34%.
• Ralph Lauren beat quarterly expectations with EPS of $6.22 vs. $5.80 expected and revenue of $2.41B (up 12.2% YoY), and announced a quarterly dividend of $0.9125 (annualized $3.65, ~1.1% yield).

Jain Global LLC acquired a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,638 shares of the textile maker's stock, valued at approximately $11,802,000. Jain Global LLC owned approximately 0.06% of Ralph Lauren as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new position in Ralph Lauren in the second quarter worth about $28,000. Rothschild Investment LLC raised its position in Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker's stock valued at $31,000 after purchasing an additional 38 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Ralph Lauren in the 2nd quarter valued at approximately $32,000. MAI Capital Management lifted its stake in shares of Ralph Lauren by 248.4% in the 3rd quarter. MAI Capital Management now owns 108 shares of the textile maker's stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Ralph Lauren by 57.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker's stock worth $39,000 after purchasing an additional 52 shares during the period. 67.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RL. Evercore set a $420.00 target price on Ralph Lauren and gave the company an "outperform" rating in a research report on Friday, February 6th. Citigroup lifted their price objective on shares of Ralph Lauren from $333.00 to $360.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Weiss Ratings upgraded shares of Ralph Lauren from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, March 3rd. Guggenheim initiated coverage on shares of Ralph Lauren in a research note on Tuesday, December 9th. They issued a "neutral" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $422.00 target price on shares of Ralph Lauren in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Ralph Lauren currently has an average rating of "Moderate Buy" and an average price target of $389.06.

Insider Buying and Selling at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the completion of the sale, the chief executive officer owned 85,552 shares of the company's stock, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 38.34% of the company's stock.

Ralph Lauren Stock Up 2.5%

Shares of RL opened at $338.95 on Tuesday. The firm has a fifty day moving average price of $359.32 and a 200-day moving average price of $343.21. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $20.52 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.29 and a beta of 1.47. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $389.15.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, topping analysts' consensus estimates of $5.80 by $0.42. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.82 earnings per share. Equities research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.9125 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. Ralph Lauren's dividend payout ratio (DPR) is 24.85%.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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