Northern Trust Corp Reduces Stock Holdings in Ralph Lauren Corporation $RL

Key Points

• Northern Trust Corp reduced its stake in Ralph Lauren Corporation by 0.8%, selling 3,286 shares and holding 426,584 shares valued at approximately $94.16 million.
• Ralph Lauren reported a quarterly earnings per share (EPS) of $3.77, exceeding analysts' expectations of $3.50, with revenue of $1.72 billion, up 13.7% year-over-year.
• The company has approved a share buyback program of up to $1.50 billion, indicating that the board believes the shares are undervalued.

Northern Trust Corp cut its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,584 shares of the textile maker's stock after selling 3,286 shares during the quarter. Northern Trust Corp owned approximately 0.69% of Ralph Lauren worth $94,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Kestra Private Wealth Services LLC increased its position in shares of Ralph Lauren by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock valued at $231,000 after buying an additional 42 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of Ralph Lauren by 3.4% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,367 shares of the textile maker's stock worth $300,000 after purchasing an additional 45 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ralph Lauren by 17.6% in the first quarter. Blue Trust Inc. now owns 415 shares of the textile maker's stock worth $92,000 after purchasing an additional 62 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Ralph Lauren by 26.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 348 shares of the textile maker's stock worth $75,000 after purchasing an additional 72 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RL has been the topic of several research analyst reports. JPMorgan Chase & Co. upped 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. Bank of America upped their price objective on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. BMO Capital Markets upped 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. Telsey Advisory Group upped their price objective on shares of Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Citigroup upped their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Two research 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $306.41.

Ralph Lauren Trading Down 0.2%

Shares of NYSE:RL traded down $0.56 during trading on Friday, reaching $297.08. 578,753 shares of the company traded hands, compared to its average volume of 732,264. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.50 and a beta of 1.53. Ralph Lauren Corporation has a 52-week low of $168.24 and a 52-week high of $306.34. 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 business's fifty day moving average is $288.88 and its 200-day moving average is $260.02.

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

Ralph Lauren announced that its board has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares buyback plans are usually an indication 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.