Oppenheimer & Co. Inc. Has $557,000 Stake in Ralph Lauren Corporation (RL)
Oppenheimer & Co. Inc. grew its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 27.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,540 shares of the textile maker’s stock after buying an additional 1,624 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ralph Lauren Corporation were worth $557,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Ralph Lauren Corporation by 3,678.8% in the 1st quarter. BlackRock Inc. now owns 4,583,697 shares of the textile maker’s stock worth $374,123,000 after purchasing an additional 4,462,396 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ralph Lauren Corporation by 378.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock worth $324,786,000 after purchasing an additional 3,480,135 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ralph Lauren Corporation by 113.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,469,782 shares of the textile maker’s stock worth $201,582,000 after purchasing an additional 1,314,237 shares in the last quarter. International Value Advisers LLC purchased a new position in Ralph Lauren Corporation in the 1st quarter worth approximately $82,868,000. Finally, Vanguard Group Inc. lifted its holdings in Ralph Lauren Corporation by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock worth $465,959,000 after purchasing an additional 495,685 shares in the last quarter. 62.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Piper Jaffray Companies reissued a “sell” rating and issued a $81.00 price target on shares of Ralph Lauren Corporation in a report on Thursday, August 10th. Royal Bank Of Canada set a $88.00 price objective on Ralph Lauren Corporation and gave the stock a “hold” rating in a report on Wednesday, August 9th. Atlantic Securities raised Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $93.00 in a report on Wednesday, August 9th. UBS AG reaffirmed a “positive” rating and set a $90.00 price objective (up from $73.00) on shares of Ralph Lauren Corporation in a report on Wednesday, August 9th. Finally, BidaskClub raised Ralph Lauren Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $90.93.
Ralph Lauren Corporation (NYSE RL) opened at 90.63 on Thursday. The company’s market cap is $7.36 billion. The stock’s 50 day moving average price is $83.92 and its 200 day moving average price is $77.95. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $1.06 earnings per share. The firm’s revenue was down 13.2% compared to the same quarter last year. Analysts expect that Ralph Lauren Corporation will post $5.29 earnings per share for the current year.
Ralph Lauren Corporation Company Profile
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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