Insider Selling: Ralph Lauren Corp major shareholder Unloads 50,000 Shares of Stock (RL)
Ralph Lauren Corp (NYSE:RL) major shareholder Family L.L.C. Lauren sold 50,000 shares of Ralph Lauren Corp stock on the open market in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $169.32, for a total transaction of $8,466,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on RL. Analysts at Zacks upgraded shares of Ralph Lauren Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 26th. They now have a $178.00 price target on the stock. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Ralph Lauren Corp from $171.00 to $177.00 in a research note on Monday, August 11th. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Ralph Lauren Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $180.00 price target on the stock, up previously from $165.00. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $169.71.
Ralph Lauren Corp (NYSE:RL) traded up 2.02% on Thursday, hitting $172.46. 1,096,802 shares of the company’s stock traded hands. Ralph Lauren Corp has a 52 week low of $141.93 and a 52 week high of $181.07. The stock’s 50-day moving average is $162.9 and its 200-day moving average is $158.2. The company has a market cap of $15.167 billion and a P/E ratio of 20.37.
Ralph Lauren Corp (NYSE:RL) last released its earnings data on Wednesday, August 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Ralph Lauren Corp will post $8.68 EPS for the current fiscal year.
Ralph Lauren Corporation is engaged in the design, marketing and distribution of products, including men’s, women’s and children’s apparel, accessories (NYSE:RL), fragrances and home furnishings.
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