Engineers Gate Manager LP Takes Position in Ralph Lauren Corp (RL)
Engineers Gate Manager LP purchased a new stake in Ralph Lauren Corp (NYSE:RL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,500 shares of the textile maker’s stock, valued at approximately $206,000.
Other hedge funds have also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in Ralph Lauren in the 2nd quarter worth about $150,000. Financial Architects Inc boosted its stake in Ralph Lauren by 498.6% in the 2nd quarter. Financial Architects Inc now owns 1,251 shares of the textile maker’s stock worth $158,000 after buying an additional 1,042 shares during the last quarter. Visionary Asset Management Inc. acquired a new stake in Ralph Lauren in the 2nd quarter worth about $203,000. Cadence Capital Management LLC acquired a new stake in Ralph Lauren in the 2nd quarter worth about $203,000. Finally, Lourd Capital LLC acquired a new stake in Ralph Lauren in the 3rd quarter worth about $205,000. Institutional investors and hedge funds own 70.08% of the company’s stock.
RL has been the topic of a number of research analyst reports. Deutsche Bank initiated coverage on Ralph Lauren in a research note on Monday, October 29th. They issued a “buy” rating and a $149.00 price target on the stock. Guggenheim reissued a “hold” rating on shares of Ralph Lauren in a research note on Tuesday, November 6th. Piper Jaffray Companies raised Ralph Lauren from an “underweight” rating to a “neutral” rating and set a $125.00 price target on the stock in a research note on Thursday, September 20th. Royal Bank of Canada set a $140.00 price target on Ralph Lauren and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Finally, Buckingham Research raised their price target on Ralph Lauren from $138.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Ralph Lauren presently has an average rating of “Hold” and a consensus target price of $137.38.
Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Tuesday, November 6th. The textile maker reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.10. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 16.19% and a net margin of 3.82%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.99 EPS. On average, equities analysts forecast that Ralph Lauren Corp will post 6.79 earnings per share for the current fiscal year.
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About Ralph Lauren
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
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