Candriam Luxembourg S.C.A. cut its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,199 shares of the apparel retailer’s stock after selling 101 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Lululemon Athletica were worth $3,310,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of LULU. Oregon Public Employees Retirement Fund lifted its holdings in shares of Lululemon Athletica by 11,283.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 4,023,801 shares during the period. Jennison Associates LLC bought a new position in shares of Lululemon Athletica during the 4th quarter worth about $314,834,000. Norges Bank bought a new position in shares of Lululemon Athletica during the 4th quarter worth about $161,284,000. Vanguard Group Inc lifted its holdings in shares of 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 period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Lululemon Athletica by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock worth $466,913,000 after acquiring an additional 328,478 shares during the period. 80.07% of the stock is owned by hedge funds and other institutional investors.
LULU opened at $173.68 on Monday. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of 45.23, a P/E/G ratio of 2.03 and a beta of 0.53. Lululemon Athletica inc. has a 1-year low of $97.55 and a 1-year high of $179.49.
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 shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of research firms have recently commented on LULU. MKM Partners raised their price objective 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 for the company in a report on Monday, April 1st. DA Davidson raised their price objective on shares of Lululemon Athletica from $146.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. BidaskClub raised shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 22nd. Finally, Morgan Stanley raised their price objective on shares of Lululemon Athletica from $150.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Lululemon Athletica currently has a consensus rating of “Buy” and an average target price of $174.90.
In other Lululemon Athletica news, Director Dennis J. Wilson sold 288,856 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $155.79, for a total value of $45,000,876.24. Following the completion of the sale, the director now owns 3,852 shares in the company, valued at approximately $600,103.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Haselden sold 49,319 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock valued at $79,873,942 in the last 90 days. Corporate insiders own 0.32% 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.
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