Lansforsakringar Fondforvaltning AB publ Buys Shares of 12,960 Ralph Lauren Corporation $RL

Key Points

• Lansforsakringar Fondforvaltning AB has acquired a new stake in Ralph Lauren Corporation, purchasing 12,960 shares valued at approximately $2.86 million in the first quarter.
• Ralph Lauren recently announced a share buyback program allowing for the repurchase of up to $1.50 billion in shares, which indicates confidence from the board regarding the stock's value.
• The company reported earnings of $3.77 per share for the latest quarter, exceeding expectations, with a year-over-year revenue increase of 13.7%.

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,960 shares of the textile maker's stock, valued at approximately $2,861,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after acquiring an additional 59 shares during the period. Sentry Investment Management LLC grew its holdings in shares of Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after purchasing an additional 89 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Ralph Lauren by 180.3% during the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after purchasing an additional 110 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ralph Lauren during the first quarter worth $39,000. Finally, Parallel Advisors LLC grew its holdings in shares of Ralph Lauren by 74.4% during the first quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after purchasing an additional 116 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Trading Up 0.7%

Ralph Lauren stock traded up $2.05 during mid-day trading on Wednesday, hitting $313.07. The stock had a trading volume of 514,014 shares, compared to its average volume of 698,299. Ralph Lauren Corporation has a 12 month low of $169.93 and a 12 month high of $317.34. The stock has a 50-day simple moving average of $290.91 and a two-hundred day simple moving average of $260.62. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $18.96 billion, a PE ratio of 25.01, a P/E/G ratio of 1.50 and a beta of 1.60.

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

Ralph Lauren declared that its board has authorized a stock repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RL. Telsey Advisory Group increased their target price on Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Evercore ISI increased their target price on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company increased their target price on Ralph Lauren from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Needham & Company LLC increased their target price on Ralph Lauren from $310.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $306.41.

About Ralph Lauren

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.