ralph lauren stock has fallen from its highs in may and director and former best buy ceo hubert joly bought the dip ralph lauren stock ticker rl rallied as high as 14206 on may 6 before selling off in the weeks that followed after dropping as low as 10379 in july shares are back up to 11980 the highend apparel retailer’s stock has returned about 13 year to date trailing the 21 return of the sp 500 index the initial drop followed ralph lauren’s may 20 earnings report which included a fullyear sales forecast that disappointed analysts at the time shares rebounded after its fiscal first quarter report on aug 3 which showed earnings per share more than doubled analyst estimates joly paid about 9904 million on aug 18 for 8400 ralph lauren shares at an average price of 11790 each the shares were purchased through a personal account according to a form he filed with the securities and exchange commission joly who was best buy’s chief executive officer from 2012 to 2019 and oversaw its successful turnaround efforts declined to comment through a representative the openmarket purchase by joly who has been a director at the apparel company since it was called polo ralph lauren back in 2009 is the largest by an insider since november 2008 it’s joly’s largest insider openmarket purchase since joining the board and his first of ralph lauren stock since he paid 154700 for 2000 ralph lauren shares on feb 4 2010b