MBB Public Markets I LLC Purchases Shares of 1,413 Ralph Lauren Corporation $RL

Key Points

• MBB Public Markets I LLC has invested $312,000 in Ralph Lauren Corporation, purchasing 1,413 shares in the first quarter.
• Institutional ownership for Ralph Lauren stands at 67.91%, with several large investors increasing their stakes during the quarter.
• Ralph Lauren reported an earnings per share of $3.77, exceeding expectations, and announced a stock buyback program amounting to $1.50 billion.

MBB Public Markets I LLC acquired a new stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,413 shares of the textile maker's stock, valued at approximately $312,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Ralph Lauren by 55.7% during the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock worth $245,468,000 after purchasing an additional 414,275 shares during the last quarter. Invesco Ltd. increased its stake in Ralph Lauren by 22.3% during the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after buying an additional 275,391 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Ralph Lauren by 24,164.5% during the first quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock valued at $56,132,000 after acquiring an additional 253,244 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Ralph Lauren during the first quarter valued at approximately $37,517,000. Finally, Trexquant Investment LP lifted its position in shares of Ralph Lauren by 509.5% in the first quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker's stock valued at $34,891,000 after acquiring an additional 132,128 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on RL. Bank of America boosted their price target on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Citigroup lifted their target price on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Jefferies Financial Group reiterated a "buy" rating on shares of Ralph Lauren in a research report on Wednesday, August 27th. Evercore ISI raised their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $308.76.

Ralph Lauren Trading Down 0.4%

RL stock traded down $1.12 during trading on Friday, reaching $315.23. 518,095 shares of the stock were exchanged, compared to its average volume of 561,186. 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 firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.60 and a beta of 1.60. The business has a 50 day moving average price of $296.18 and a 200-day moving average price of $262.12. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $321.77.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly 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. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 EPS. On average, research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. Ralph Lauren's dividend payout ratio is currently 29.15%.

Ralph Lauren declared that its Board of Directors has approved a stock buyback plan on Thursday, May 22nd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership 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.