State of Wyoming Purchases 1,789 Shares of Ralph Lauren Corporation $RL

Key Points

• The State of Wyoming increased its holdings in Ralph Lauren Corporation by 462.3% in the first quarter, acquiring an additional 1,789 shares to reach a total of 2,176 shares worth $480,000.
• Analysts have set new price targets for Ralph Lauren, with Needham & Company raising its target from $310.00 to $335.00, while Barclays issued a new target of $360.00, reflecting a generally positive outlook for the stock.
• Ralph Lauren reported a quarterly earnings per share of $3.77, exceeding estimates, and announced a $1.50 billion share repurchase program to buy back up to 8.8% of its outstanding shares, signaling confidence in its stock valuation.

State of Wyoming boosted its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 462.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,176 shares of the textile maker's stock after purchasing an additional 1,789 shares during the period. State of Wyoming's holdings in Ralph Lauren were worth $480,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ralph Lauren by 93.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after buying an additional 59 shares during the last quarter. Sentry Investment Management LLC boosted its stake in shares of Ralph Lauren by 178.0% during the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after buying an additional 89 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Ralph Lauren by 180.3% during the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after buying an additional 110 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ralph Lauren during the 1st quarter worth about $39,000. Finally, Parallel Advisors LLC boosted its stake in shares of Ralph Lauren by 74.4% during the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after buying an additional 116 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Ralph Lauren from $310.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. BMO Capital Markets raised their target price on shares of Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Jefferies Financial Group reiterated a "buy" rating on shares of Ralph Lauren in a research note on Wednesday. Finally, Barclays reiterated an "overweight" rating and issued a $360.00 target price (up from $321.00) on shares of Ralph Lauren in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.41.

Ralph Lauren Stock Down 0.2%

NYSE RL opened at $297.08 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 1-year low of $168.24 and a 1-year high of $306.34. The company has a 50 day moving average of $288.88 and a 200-day moving average of $259.93. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.50 and a beta of 1.53.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion for 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 firm's quarterly 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. On average, equities research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren announced that its board has authorized a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are typically 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.