Wells Fargo & Co set a $190.00 price objective on Lululemon Athletica (NASDAQ:LULU) in a report released on Thursday, March 28th, The Fly reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.
Other equities analysts have also recently issued research reports about the company. MKM Partners boosted their price objective on Lululemon Athletica from $179.00 to $189.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Morgan Stanley upped their price target on Lululemon Athletica from $141.00 to $150.00 and gave the company an equal weight rating in a report on Thursday, March 28th. Canaccord Genuity reaffirmed a buy rating and issued a $186.00 price target (up previously from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Credit Suisse Group upped their price target on Lululemon Athletica from $172.00 to $190.00 and gave the company an outperform rating in a report on Thursday, March 28th. Finally, Citigroup raised Lululemon Athletica from a neutral rating to a buy rating and set a $152.00 price target for the company in a report on Wednesday, December 12th. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Lululemon Athletica presently has an average rating of Buy and a consensus target price of $167.91.
Shares of NASDAQ LULU traded up $2.08 during trading hours on Thursday, hitting $173.31. 2,293,194 shares of the company’s stock were exchanged, compared to its average volume of 3,286,813. Lululemon Athletica has a 1-year low of $94.20 and a 1-year high of $174.64. The stock has a market capitalization 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 announced that its board has authorized a stock repurchase plan on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dennis J. Wilson sold 1,379,000 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $145.00, for a total value of $199,955,000.00. Following the sale, the insider now owns 3,852 shares in the company, valued at $558,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,142,883 shares of company stock worth $316,468,220. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Lululemon Athletica by 10.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after acquiring an additional 899,080 shares during the last quarter. Vanguard Group Inc boosted its position in Lululemon Athletica by 10.6% in the 3rd 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 during the last quarter. BlackRock Inc. boosted its position in Lululemon Athletica by 10.8% in the 3rd quarter. BlackRock Inc. now owns 6,680,814 shares of the apparel retailer’s stock valued at $1,085,564,000 after buying an additional 650,365 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Lululemon Athletica by 11,283.2% in the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Lululemon Athletica by 12.9% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 80.47% of the company’s stock.
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.
See Also: Sell-Side Analysts
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