Zurich Insurance Group Ltd FI Takes Position in Ralph Lauren Corporation $RL

Zurich Insurance Group Ltd FI bought a new stake in shares of Ralph Lauren Corporation (NYSE:RL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,518 shares of the textile maker’s stock, valued at approximately $997,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Ralph Lauren by 22.3% during the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after acquiring an additional 275,391 shares during the last quarter. AQR Capital Management LLC lifted its position in Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after buying an additional 414,275 shares during the last quarter. Jennison Associates LLC lifted its position in Ralph Lauren by 16.5% in the first quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock worth $124,870,000 after buying an additional 79,934 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ralph Lauren by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 311,274 shares of the textile maker’s stock worth $71,898,000 after buying an additional 5,742 shares during the last quarter. Finally, Truist Financial Corp lifted its position in Ralph Lauren by 7.8% in the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker’s stock worth $66,407,000 after buying an additional 21,681 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

RL stock opened at $309.40 on Wednesday. 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 business’s fifty day simple moving average is $293.97 and its two-hundred day simple moving average is $261.25. Ralph Lauren Corporation has a twelve month low of $169.93 and a twelve month high of $321.77. The firm has a market cap of $18.74 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.56 and a beta of 1.60.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren declared that its board has initiated a share repurchase program on Thursday, May 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on RL shares. Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Telsey Advisory Group raised their price target on Ralph Lauren from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Cowen restated a “buy” rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Ralph Lauren in a research note on Wednesday, August 27th. Finally, JPMorgan Chase & Co. increased their target price on Ralph Lauren from $355.00 to $406.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.88.

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.