American International Group Inc. increased its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 308.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,701 shares of the apparel retailer’s stock after acquiring an additional 7,328 shares during the period. American International Group Inc.’s holdings in Lululemon Athletica were worth $1,180,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LULU. AdvisorNet Financial Inc raised its holdings in Lululemon Athletica by 70.8% during the fourth quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 85 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Lululemon Athletica by 11,283.2% during 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 acquiring an additional 4,023,801 shares during the period. Exane Derivatives raised its holdings in Lululemon Athletica by 32,600.0% during the fourth quarter. Exane Derivatives now owns 327 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 326 shares during the period. Karp Capital Management Corp purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at about $43,000. Finally, Next Capital Management LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at about $46,000. 80.47% of the stock is owned by institutional investors.
In other Lululemon Athletica news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,930,370.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Dennis J. Wilson sold 1,379,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 3,852 shares in the company, valued at $558,540. The disclosure for this sale can be found here. Insiders have sold 2,142,883 shares of company stock worth $316,468,220 over the last three months. Corporate insiders own 0.32% of the company’s stock.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 earnings per share. Equities research analysts anticipate that Lululemon Athletica inc. will post 4.62 EPS for the current year.
Lululemon Athletica declared that its board has authorized a stock repurchase program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have recently weighed in on LULU shares. Cowen raised their price objective on Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Canaccord Genuity set a $186.00 price target on Lululemon Athletica and gave the stock a “buy” rating in a research report on Tuesday. Wedbush lowered Lululemon Athletica from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $176.00 to $155.00 in a research report on Friday, March 22nd. Buckingham Research raised shares of Lululemon Athletica from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 9th. Finally, 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 research note on Thursday, March 28th. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Lululemon Athletica presently has a consensus rating of “Buy” and a consensus price target of $171.16.
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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