SG Americas Securities LLC raised its position in Lululemon Athletica inc. (NASDAQ:LULU) by 1,224.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,549 shares of the apparel retailer’s stock after acquiring an additional 31,015 shares during the period. SG Americas Securities LLC’s holdings in Lululemon Athletica were worth $5,498,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Optimum Investment Advisors boosted its position in shares of Lululemon Athletica by 2,052.2% in the 4th quarter. Optimum Investment Advisors now owns 1,442 shares of the apparel retailer’s stock worth $175,000 after purchasing an additional 1,375 shares during the last quarter. Jennison Associates LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $314,834,000. Meeder Asset Management Inc. raised its stake in Lululemon Athletica by 9.2% during the 4th quarter. Meeder Asset Management Inc. now owns 8,070 shares of the apparel retailer’s stock worth $981,000 after buying an additional 680 shares during the period. Gateway Investment Advisers LLC raised its stake in Lululemon Athletica by 60.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 115,386 shares of the apparel retailer’s stock worth $14,032,000 after buying an additional 43,389 shares during the period. Finally, First Foundation Advisors acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $1,216,000. 81.28% of the stock is owned by hedge funds and other institutional investors.
LULU traded up $2.58 during trading on Friday, hitting $172.78. 1,359,724 shares of the stock traded hands, compared to its average volume of 2,128,380. Lululemon Athletica inc. has a twelve month low of $103.80 and a twelve month high of $179.49. The company has a market cap of $22.85 billion, a P/E ratio of 44.99, a P/E/G ratio of 2.06 and a beta of 0.53.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Equities analysts expect that Lululemon Athletica inc. will post 4.67 earnings per share for the current year.
Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Wednesday, March 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several analysts have issued reports on the company. Credit Suisse Group lifted their price target on Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. 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. Zacks Investment Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price objective for the company in a report on Monday, April 1st. Stifel Nicolaus raised their price objective on Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Co raised their price objective on Lululemon Athletica from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $175.23.
In related news, Director Dennis J. Wilson sold 155,800 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total value of $22,502,194.00. Following the sale, the director now owns 3,852 shares of the company’s stock, valued at $556,344.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the completion of the sale, the executive vice president now directly owns 18,019 shares in the company, valued at approximately $3,000,884.26. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock valued at $79,873,942 over the last quarter. Company insiders own 0.32% of the company’s stock.
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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