Teacher Retirement System of Texas Decreases Holdings in Lululemon Athletica inc. (LULU)

Teacher Retirement System of Texas lessened its stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 52.0% during the first quarter, Holdings Channel reports. The institutional investor owned 52,027 shares of the apparel retailer’s stock after selling 56,277 shares during the period. Teacher Retirement System of Texas’ holdings in Lululemon Athletica were worth $8,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors grew its stake in shares of Lululemon Athletica by 2,052.2% during the fourth quarter. Optimum Investment Advisors now owns 1,442 shares of the apparel retailer’s stock worth $175,000 after buying an additional 1,375 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth $314,834,000. Meeder Asset Management Inc. grew its stake in shares of Lululemon Athletica by 9.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,070 shares of the apparel retailer’s stock worth $981,000 after purchasing an additional 680 shares during the last quarter. First Foundation Advisors bought a new stake in Lululemon Athletica during the fourth quarter valued at $1,216,000. Finally, Scotia Capital Inc. boosted its position in Lululemon Athletica by 79.8% during the fourth quarter. Scotia Capital Inc. now owns 10,976 shares of the apparel retailer’s stock valued at $1,335,000 after acquiring an additional 4,871 shares during the last quarter. 80.26% of the stock is currently owned by hedge funds and other institutional investors.

LULU opened at $173.00 on Friday. Lululemon Athletica inc. has a fifty-two week low of $101.50 and a fifty-two week high of $179.49. The stock has a market capitalization of $23.15 billion, a P/E ratio of 45.05, a price-to-earnings-growth ratio of 2.06 and a beta of 0.53.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Analysts expect that Lululemon Athletica inc. will post 4.66 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has authorized a share buyback 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 buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction dated 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 owns 11,294 shares in the company, valued at approximately $1,930,370.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis J. Wilson sold 288,856 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $155.79, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock worth $79,873,942 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

A number of brokerages have commented on LULU. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price target on the stock in a research report on Monday, April 1st. DA Davidson upped their price target on shares of Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, March 28th. BidaskClub raised shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 22nd. Morgan Stanley upped their price target on shares of Lululemon Athletica from $150.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group upped their price target on shares of Lululemon Athletica from $126.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. They noted that the move was a valuation call. 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $175.23.

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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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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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