Geode Capital Management LLC increased its position in shares of Ralph Lauren Corp (NYSE:RL) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658,142 shares of the textile maker’s stock after purchasing an additional 54,371 shares during the period. Geode Capital Management LLC owned approximately 0.81% of Ralph Lauren worth $68,114,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in shares of Ralph Lauren by 5.7% during the 4th quarter. Amalgamated Bank now owns 11,505 shares of the textile maker’s stock worth $1,193,000 after purchasing an additional 619 shares during the period. Stansberry Asset Management LLC purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $6,387,000. Spark Investment Management LLC purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $1,814,000. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $229,000. Finally, Bank of Hawaii purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $657,000. 73.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Ralph Lauren Corp (RL) opened at $107.32 on Wednesday. Ralph Lauren Corp has a twelve month low of $66.06 and a twelve month high of $119.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.07 and a quick ratio of 1.58. The company has a market cap of $8,720.00, a PE ratio of 59.29, a PEG ratio of 1.75 and a beta of 0.69.
A number of equities analysts recently commented on RL shares. ValuEngine raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Bank of America cut shares of Ralph Lauren from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $100.14 to $80.00 in a research note on Wednesday, December 13th. Cowen set a $95.00 price objective on shares of Ralph Lauren and gave the company a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research cut shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $113.00 price objective on shares of Ralph Lauren in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.88.
COPYRIGHT VIOLATION WARNING: “Ralph Lauren Corp (RL) Position Boosted by Geode Capital Management LLC” was originally reported by American Banking News and is owned by of American Banking News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/ralph-lauren-corp-rl-position-boosted-by-geode-capital-management-llc.html.
Ralph Lauren Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
Receive News & Ratings for Ralph Lauren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ralph Lauren and related companies with MarketBeat.com's FREE daily email newsletter.