CIBC Asset Management Inc raised its position in Ralph Lauren Corporation (NYSE:RL) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 6,573 shares of the textile maker’s stock after buying an additional 124 shares during the period. CIBC Asset Management Inc’s holdings in Ralph Lauren Corporation were worth $485,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its stake in Ralph Lauren Corporation by 200.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,410 shares of the textile maker’s stock worth $399,000 after buying an additional 3,610 shares during the last quarter. Shell Asset Management Co. raised its stake in Ralph Lauren Corporation by 14.4% in the second quarter. Shell Asset Management Co. now owns 4,152 shares of the textile maker’s stock worth $306,000 after buying an additional 523 shares during the last quarter. Hartford Investment Management Co. raised its stake in Ralph Lauren Corporation by 85.7% in the second quarter. Hartford Investment Management Co. now owns 23,870 shares of the textile maker’s stock worth $1,762,000 after buying an additional 11,015 shares during the last quarter. ING Groep NV raised its stake in Ralph Lauren Corporation by 404.5% in the second quarter. ING Groep NV now owns 24,595 shares of the textile maker’s stock worth $1,815,000 after buying an additional 19,720 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in Ralph Lauren Corporation by 47.4% in the second quarter. APG Asset Management N.V. now owns 513,608 shares of the textile maker’s stock worth $37,904,000 after buying an additional 165,100 shares during the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.

Shares of Ralph Lauren Corporation (RL) opened at 84.96 on Wednesday. The company’s market cap is $6.93 billion. Ralph Lauren Corporation has a 12 month low of $66.06 and a 12 month high of $114.00. The company’s 50-day moving average price is $75.82 and its 200-day moving average price is $76.85.

Ralph Lauren Corporation (NYSE:RL) last issued its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business earned $1.06 EPS. Ralph Lauren Corporation’s revenue was down 13.2% on a year-over-year basis. Equities analysts forecast that Ralph Lauren Corporation will post $5.21 EPS for the current fiscal year.

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A number of analysts have weighed in on the company. Piper Jaffray Companies reiterated a “sell” rating and issued a $81.00 target price on shares of Ralph Lauren Corporation in a research note on Thursday, August 10th. BidaskClub upgraded Ralph Lauren Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 9th. UBS AG reiterated a “positive” rating and issued a $90.00 target price (up previously from $73.00) on shares of Ralph Lauren Corporation in a research note on Wednesday, August 9th. Atlantic Securities upgraded Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $93.00 in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $88.00 target price on Ralph Lauren Corporation and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Ralph Lauren Corporation has a consensus rating of “Hold” and an average target price of $88.56.

About Ralph Lauren Corporation

Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.

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Institutional Ownership by Quarter for Ralph Lauren Corporation (NYSE:RL)

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