Rational Advisors LLC raised its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 86.1% in the 1st quarter, Holdings Channel reports. The firm owned 4,146 shares of the apparel retailer’s stock after acquiring an additional 1,918 shares during the period. Rational Advisors LLC’s holdings in Lululemon Athletica were worth $679,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. increased its position in shares of Lululemon Athletica by 0.8% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,001 shares of the apparel retailer’s stock worth $1,147,000 after purchasing an additional 59 shares during the last quarter. Rothschild & Co. Asset Management US Inc. bought a new stake in shares of Lululemon Athletica in the 1st quarter worth about $225,000. Penserra Capital Management LLC increased its position in shares of Lululemon Athletica by 38.6% in the 1st quarter. Penserra Capital Management LLC now owns 80,046 shares of the apparel retailer’s stock worth $14,116,000 after purchasing an additional 22,297 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Lululemon Athletica by 27.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 146,389 shares of the apparel retailer’s stock worth $23,937,000 after purchasing an additional 31,306 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. increased its position in shares of Lululemon Athletica by 163.8% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 12,500 shares of the apparel retailer’s stock worth $2,048,000 after purchasing an additional 7,762 shares during the last quarter. 81.28% of the stock is owned by institutional investors.
LULU stock opened at $170.20 on Friday. Lululemon Athletica inc. has a 52 week low of $103.80 and a 52 week high of $179.49. The stock has a market cap of $22.85 billion, a price-to-earnings ratio of 44.32, a P/E/G ratio of 2.06 and a beta of 0.53.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that Lululemon Athletica inc. will post 4.67 earnings per share for the current fiscal year.
Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, March 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,930,370.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction that occurred 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 owns 18,019 shares in the company, valued at $3,000,884.26. The disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock worth $79,873,942 over the last quarter. Insiders own 0.32% of the company’s stock.
Several research firms have recently commented on LULU. MKM Partners lifted their price target on shares of Lululemon Athletica from $179.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, March 28th. UBS Group lifted their price target on shares of Lululemon Athletica from $176.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. B. Riley lifted their price target on shares of Lululemon Athletica from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Morgan Stanley lifted their price target on shares of Lululemon Athletica from $141.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Finally, Argus boosted their target price on shares of Lululemon Athletica to $195.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Eleven 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. The company currently has an average rating of “Buy” and an average price target of $175.23.
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Lululemon Athletica Company 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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