Sumitomo Mitsui Financial Group Inc. Has $2.58 Million Position in Ralph Lauren Corporation $RL

Key Points

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Sumitomo Mitsui Financial Group Inc. lifted its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,703 shares of the textile maker's stock after acquiring an additional 1,705 shares during the quarter. Sumitomo Mitsui Financial Group Inc.'s holdings in Ralph Lauren were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RL. MassMutual Private Wealth & Trust FSB lifted its stake 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 valued at $27,000 after buying an additional 59 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Ralph Lauren by 178.0% in the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after buying an additional 89 shares during the period. Brooklyn Investment Group lifted its stake in shares of Ralph Lauren by 180.3% in the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock valued at $38,000 after buying an additional 110 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ralph Lauren in the first quarter valued at about $39,000. Finally, Parallel Advisors LLC lifted its stake in shares of Ralph Lauren by 74.4% in the first quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock valued at $60,000 after buying an additional 116 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Price Performance

RL traded up $0.4160 during midday trading on Friday, reaching $285.8760. 594,401 shares of the company's stock were exchanged, compared to its average volume of 866,997. Ralph Lauren Corporation has a one year low of $167.32 and a one year high of $306.34. The business has a 50-day simple moving average of $285.65 and a two-hundred day simple moving average of $258.80. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.45 and a beta of 1.53.

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

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RL. BMO Capital Markets increased 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. UBS Group increased their target price on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Cfra Research upgraded shares of Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 11th. Zacks Research upgraded shares of Ralph Lauren to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.