Mackenzie Financial Corp Sells 5,475 Shares of Ralph Lauren Corporation $RL

Mackenzie Financial Corp cut its holdings in Ralph Lauren Corporation (NYSE:RL) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 125,531 shares of the textile maker’s stock after selling 5,475 shares during the quarter. Mackenzie Financial Corp’s holdings in Ralph Lauren were worth $39,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RL. Orion Porfolio Solutions LLC grew its position in shares of Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after buying an additional 952,681 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Ralph Lauren during the 3rd quarter valued at $86,719,000. Jupiter Asset Management Ltd. acquired a new position in shares of Ralph Lauren during the 3rd quarter valued at $74,841,000. Qube Research & Technologies Ltd boosted its stake in Ralph Lauren by 26.2% during the second quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock worth $231,306,000 after acquiring an additional 174,847 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Ralph Lauren by 116.6% in the second quarter. Fisher Asset Management LLC now owns 267,742 shares of the textile maker’s stock worth $73,436,000 after purchasing an additional 144,155 shares during the period. 67.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Patrice Louvet sold 47,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total value of $16,648,340.00. Following the transaction, the chief executive officer owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. This trade represents a 35.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 38.34% of the company’s stock.

Ralph Lauren Stock Performance

Shares of RL stock opened at $334.53 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $360.35 and a two-hundred day simple moving average of $341.94. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $389.15. The firm has a market capitalization of $20.25 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $4.82 earnings per share. Analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RL. Argus lifted their price target on shares of Ralph Lauren from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Weiss Ratings raised shares of Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group reduced their target price on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating for the company in a research note on Friday, February 6th. BTIG Research boosted their target price on Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Zacks Research raised Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Ralph Lauren presently has an average rating of “Moderate Buy” and an average target price of $389.06.

About Ralph Lauren

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.