Atreides Management LP Sells 54,176 Shares of Ralph Lauren Corporation $RL

Atreides Management LP lessened its position in Ralph Lauren Corporation (NYSE:RL) by 30.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,100 shares of the textile maker’s stock after selling 54,176 shares during the quarter. Atreides Management LP’s holdings in Ralph Lauren were worth $39,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Ralph Lauren by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock valued at $276,407,000 after buying an additional 117,494 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Ralph Lauren by 18.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker’s stock worth $10,147,000 after buying an additional 5,075 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Ralph Lauren by 7.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 265,601 shares of the textile maker’s stock worth $83,282,000 after buying an additional 18,355 shares during the period. Winnow Wealth LLC bought a new position in shares of Ralph Lauren in the 3rd quarter worth about $899,000. Finally, Rakuten Investment Management Inc. purchased a new position in Ralph Lauren during the 3rd quarter valued at about $86,719,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ralph Lauren

In related news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the transaction, the chief executive officer directly owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. This represents a 35.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 38.34% of the company’s stock.

Ralph Lauren Stock Down 1.4%

Shares of Ralph Lauren stock opened at $330.43 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. The stock has a market capitalization of $20.00 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.29 and a beta of 1.47. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $389.15. The company has a 50-day simple moving average of $359.71 and a two-hundred day simple moving average of $342.58.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.42. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.82 earnings per share. On average, analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RL has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on shares of Ralph Lauren in a research note on Thursday, January 8th. Argus lifted their target price on shares of Ralph Lauren from $360.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Citigroup boosted their price target on Ralph Lauren from $333.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Weiss Ratings upgraded Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company raised their price objective on Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ralph Lauren presently has an average rating of “Moderate Buy” and an average price target of $389.06.

Ralph Lauren Company Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.