CIBC Asset Management Inc Trims Stake in Ralph Lauren Co. (NYSE:RL)

CIBC Asset Management Inc lessened its holdings in Ralph Lauren Co. (NYSE:RL) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,063 shares of the textile maker’s stock after selling 344 shares during the period. CIBC Asset Management Inc’s holdings in Ralph Lauren were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RL. Boston Partners raised its position in Ralph Lauren by 67.2% in the fourth quarter. Boston Partners now owns 1,214,000 shares of the textile maker’s stock valued at $175,001,000 after purchasing an additional 487,882 shares during the period. King Luther Capital Management Corp purchased a new stake in shares of Ralph Lauren in the 4th quarter valued at $18,944,000. Bridgefront Capital LLC lifted its stake in Ralph Lauren by 251.5% during the 4th quarter. Bridgefront Capital LLC now owns 12,330 shares of the textile maker’s stock worth $1,778,000 after acquiring an additional 8,822 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Ralph Lauren by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,743 shares of the textile maker’s stock valued at $11,968,000 after acquiring an additional 6,378 shares during the period. Finally, Bessemer Group Inc. grew its position in Ralph Lauren by 708.2% in the 1st quarter. Bessemer Group Inc. now owns 9,020 shares of the textile maker’s stock valued at $1,694,000 after acquiring an additional 7,904 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. TD Cowen lowered their price objective on shares of Ralph Lauren from $196.00 to $193.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Ralph Lauren in a research report on Wednesday, August 7th. Barclays boosted their price target on shares of Ralph Lauren from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. StockNews.com cut Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Guggenheim reissued a “buy” rating and set a $200.00 target price on shares of Ralph Lauren in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.80.

Ralph Lauren Trading Down 0.3 %

NYSE:RL opened at $172.85 on Friday. Ralph Lauren Co. has a 1 year low of $108.60 and a 1 year high of $192.03. The stock has a market cap of $10.71 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.41 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 2.19. The stock has a 50-day simple moving average of $169.25 and a 200-day simple moving average of $173.73.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.25. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. Ralph Lauren had a return on equity of 28.79% and a net margin of 10.27%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, analysts anticipate that Ralph Lauren Co. will post 11.23 earnings per share for the current fiscal year.

Ralph Lauren Company 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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.