JT Stratford LLC Purchases 3,468 Shares of Ralph Lauren Corporation $RL

Key Points

• JT Stratford LLC increased its investment in Ralph Lauren Corporation by 304.7%, owning 4,606 shares valued at approximately $1,017,000 after acquiring 3,468 shares.
• Ralph Lauren reported earnings of $3.77 per share, exceeding analysts' expectations of $3.50, with a revenue growth of 13.7% year-over-year.
• The company also announced a quarterly dividend increase to $0.9125 per share, reflecting its positive financial outlook and a stock repurchase program worth $1.50 billion.

JT Stratford LLC raised its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 304.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,606 shares of the textile maker's stock after purchasing an additional 3,468 shares during the quarter. JT Stratford LLC's holdings in Ralph Lauren were worth $1,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in Ralph Lauren by 93.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after purchasing an additional 59 shares during the period. Sentry Investment Management LLC grew its position 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 worth $31,000 after buying an additional 89 shares during the period. Brooklyn Investment Group grew its position 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 worth $38,000 after buying an additional 110 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ralph Lauren during the 1st quarter worth approximately $39,000. Finally, Parallel Advisors LLC grew its position in shares of Ralph Lauren by 74.4% during the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 67.91% of the company's stock.

Analysts Set New Price Targets

RL has been the subject of several recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Ralph Lauren from $355.00 to $406.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. BMO Capital Markets raised their price objective on shares of Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Evercore ISI raised their price objective on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Cfra Research upgraded Ralph Lauren from a "moderate sell" rating to a "hold" rating in a report on Monday, August 11th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $306.41.

Ralph Lauren Stock Performance

Shares of NYSE RL traded up $0.4160 during mid-day trading on Friday, reaching $285.8760. 594,401 shares of the company's stock were exchanged, compared to its average volume of 745,843. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.53. Ralph Lauren Corporation has a 52 week low of $167.32 and a 52 week high of $306.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The firm has a 50-day moving average price of $286.16 and a two-hundred day moving average price of $259.07.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the previous year, the business posted $2.70 EPS. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren announced that its Board of Directors has initiated a share buyback plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Ralph Lauren 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.