1,493 Shares in Ralph Lauren Corporation $RL Purchased by Kaufman Rossin Wealth LLC

Key Points

• Kaufman Rossin Wealth LLC has acquired a new position in Ralph Lauren Corporation, purchasing 1,493 shares valued at approximately $330,000.
• Several institutional investors have increased their stakes in Ralph Lauren, with significant increases from MassMutual Private Wealth & Trust FSB (93.7%) and Resona Asset Management Co. Ltd. (26.1%).
• Ralph Lauren reported strong quarterly earnings, surpassing expectations with $3.77 earnings per share and revenue growth of 13.7% compared to the previous year.

Kaufman Rossin Wealth LLC acquired 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 & Exchange Commission. The fund acquired 1,493 shares of the textile maker's stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RL. Mariner LLC increased its position in shares of Ralph Lauren by 12.0% during the fourth quarter. Mariner LLC now owns 5,409 shares of the textile maker's stock worth $1,249,000 after purchasing an additional 580 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Ralph Lauren by 12.7% during the fourth quarter. NewEdge Advisors LLC now owns 2,958 shares of the textile maker's stock worth $683,000 after purchasing an additional 333 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Ralph Lauren by 725.7% during the fourth quarter. GeoWealth Management LLC now owns 1,156 shares of the textile maker's stock worth $267,000 after purchasing an additional 1,016 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ralph Lauren by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 481,109 shares of the textile maker's stock worth $111,133,000 after purchasing an additional 6,981 shares in the last quarter. Finally, Norinchukin Bank The increased its position in shares of Ralph Lauren by 12.2% during the fourth quarter. Norinchukin Bank The now owns 1,793 shares of the textile maker's stock worth $414,000 after purchasing an additional 195 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on RL shares. Citigroup boosted their price target on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Jefferies Financial Group boosted their price target on Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price target on Ralph Lauren from $355.00 to $406.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Needham & Company LLC upped their target price on Ralph Lauren from $310.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Evercore ISI upped their target price on Ralph Lauren from $320.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Two 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $306.41.

Ralph Lauren Trading Up 0.1%

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 PEG ratio of 1.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. Ralph Lauren Corporation has a 52-week low of $167.32 and a 52-week high of $306.34. The company's 50-day moving average is $286.16 and its 200-day moving average is $259.14.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company's revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.70 EPS. Analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren declared that its board has authorized a share repurchase program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to purchase up to 8.8% of its stock through open market purchases. Stock buyback programs are often an indication 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.