Financial Advocates Investment Management grew its holdings in Lululemon Athletica inc. (NASDAQ:LULU) by 3,971.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,242 shares of the apparel retailer’s stock after buying an additional 17,794 shares during the period. Financial Advocates Investment Management’s holdings in Lululemon Athletica were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in Lululemon Athletica by 9.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,118 shares of the apparel retailer’s stock worth $1,156,000 after acquiring an additional 589 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Lululemon Athletica by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock worth $466,913,000 after purchasing an additional 328,478 shares during the period. MML Investors Services LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter worth approximately $325,000. BlackRock Inc. lifted its position in Lululemon Athletica by 10.8% during the third quarter. BlackRock Inc. now owns 6,680,814 shares of the apparel retailer’s stock valued at $1,085,564,000 after acquiring an additional 650,365 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Lululemon Athletica by 82.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 17,266 shares of the apparel retailer’s stock valued at $2,745,000 after acquiring an additional 7,823 shares during the last quarter. 80.47% of the stock is owned by institutional investors and hedge funds.
Shares of LULU traded up $2.08 during trading on Friday, reaching $173.31. 2,293,194 shares of the company traded hands, compared to its average volume of 3,286,813. Lululemon Athletica inc. has a twelve month low of $94.20 and a twelve month high of $174.64. The stock has a market cap of $22.69 billion, a PE ratio of 45.13, a P/E/G ratio of 2.09 and a beta of 0.52.
Lululemon Athletica declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts have issued reports on the stock. MKM Partners raised their price target on shares of Lululemon Athletica from $177.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, January 16th. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price objective on the stock in a report on Monday, April 1st. DA Davidson raised their price target on shares of Lululemon Athletica from $146.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, March 28th. BidaskClub raised shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 22nd. Finally, Wells Fargo & Co decreased their price target on shares of Lululemon Athletica from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $167.91.
In other Lululemon Athletica news, EVP Celeste Burgoyne sold 19,199 shares of Lululemon Athletica stock in a transaction dated Friday, March 29th. The shares were 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 $3,000,884.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Dennis J. Wilson sold 1,379,000 shares of Lululemon Athletica stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $145.00, for a total transaction of $199,955,000.00. Following the sale, the insider now owns 3,852 shares of the company’s stock, valued at $558,540. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,142,883 shares of company stock valued at $316,468,220. Company insiders own 0.32% of the company’s stock.
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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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