Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 1,233.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,740 shares of the apparel retailer’s stock after buying an additional 58,960 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Lululemon Athletica were worth $10,445,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in shares of Lululemon Athletica by 10.6% in the third quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after buying an additional 899,080 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Lululemon Athletica by 11,283.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 4,023,801 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lululemon Athletica by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock valued at $466,913,000 after buying an additional 328,478 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $314,834,000. Finally, Norges Bank purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $161,284,000. 80.26% of the stock is currently owned by institutional investors.
In other Lululemon Athletica news, COO Stuart Haselden sold 49,319 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at $4,063,644.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the sale, the insider now directly owns 11,294 shares of the company’s stock, valued at approximately $1,930,370.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is owned by company insiders.
Lululemon Athletica stock traded down $0.81 during trading on Wednesday, hitting $175.72. The company’s stock had a trading volume of 766,903 shares, compared to its average volume of 2,139,532. The firm has a market capitalization of $23.01 billion, a P/E ratio of 45.76, a PEG ratio of 2.02 and a beta of 0.53. Lululemon Athletica inc. has a 1-year low of $102.02 and a 1-year high of $179.49.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. As a group, equities research analysts forecast that Lululemon Athletica inc. will post 4.67 EPS for the current fiscal year.
Lululemon Athletica announced that its Board of Directors has authorized a stock buyback program on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently weighed in on LULU shares. Cowen lifted their price target on Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Canaccord Genuity set a $186.00 price objective on Lululemon Athletica and gave the stock a “buy” rating in a report on Tuesday, April 23rd. B. Riley lifted their price objective on Lululemon Athletica from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Wedbush cut Lululemon Athletica from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $176.00 to $155.00 in a report on Friday, March 22nd. Finally, MKM Partners lifted their price objective on Lululemon Athletica from $179.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $175.23.
Lululemon Athletica Profile
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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