Petrus Trust Company LTA Purchases 1,836 Shares of Ralph Lauren Corporation $RL

Key Points

• Petrus Trust Company LTA increased its stake in Ralph Lauren by 74.1% in the first quarter, owning 4,313 shares worth approximately $952,000 after acquiring additional shares.
• Ralph Lauren's quarterly earnings surpassed expectations, reporting $3.77 earnings per share and $1.72 billion in revenue, leading to a 13.7% increase compared to the same quarter last year.
• The company has authorized a stock buyback plan of $1.50 billion, indicating confidence in the stock's value, as it allows repurchasing up to 8.8% of its stock through open market purchases.

Petrus Trust Company LTA boosted its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 74.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,313 shares of the textile maker's stock after acquiring an additional 1,836 shares during the period. Petrus Trust Company LTA's holdings in Ralph Lauren were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ralph Lauren by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker's stock valued at $758,000 after acquiring an additional 174 shares during the period. Gotham Asset Management LLC raised its stake in Ralph Lauren by 12.2% in the 1st quarter. Gotham Asset Management LLC now owns 109,420 shares of the textile maker's stock valued at $24,153,000 after acquiring an additional 11,873 shares during the period. DoubleLine ETF Adviser LP bought a new position in shares of Ralph Lauren during the first quarter worth approximately $204,000. Cinctive Capital Management LP bought a new position in shares of Ralph Lauren during the first quarter worth approximately $2,282,000. Finally, Banque Transatlantique SA bought a new position in shares of Ralph Lauren during the first quarter worth approximately $33,000. Institutional investors own 67.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RL shares. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and set a $360.00 price objective (up previously from $321.00) on shares of Ralph Lauren in a research report on Friday, August 8th. Evercore ISI increased their price objective on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Bank of America increased their price objective on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Ralph Lauren in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $307.88.

Ralph Lauren Price Performance

Shares of RL stock traded up $0.41 during trading hours on Tuesday, reaching $309.40. The company's stock had a trading volume of 474,333 shares, compared to its average volume of 574,413. The firm's 50 day simple moving average is $293.97 and its 200-day simple moving average is $261.25. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.56 and a beta of 1.60. Ralph Lauren Corporation has a fifty-two week low of $169.93 and a fifty-two week high of $321.77. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

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 the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion for 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%.Ralph Lauren's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $2.70 earnings per share. Sell-side analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren announced that its board has authorized a stock repurchase 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 purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership 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.