Geode Capital Management LLC increased its stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,296,806 shares of the apparel retailer’s stock after purchasing an additional 53,511 shares during the period. Geode Capital Management LLC’s holdings in Lululemon Athletica were worth $157,624,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its position in shares of Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 85 shares during the period. Oregon Public Employees Retirement Fund boosted its position 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 purchasing an additional 4,023,801 shares during the period. Exane Derivatives boosted its position in shares of Lululemon Athletica by 32,600.0% during the 4th quarter. Exane Derivatives now owns 327 shares of the apparel retailer’s stock worth $40,000 after purchasing an additional 326 shares during the period. Karp Capital Management Corp purchased a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $43,000. Finally, Next Capital Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $46,000. 81.28% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Dennis J. Wilson sold 288,856 shares of Lululemon Athletica stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $155.79, for a total transaction of $45,000,876.24. Following the sale, the director now directly owns 3,852 shares in the company, valued at approximately $600,103.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Sun Choe sold 6,170 shares of Lululemon Athletica stock in a transaction 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 owns 11,294 shares in the company, valued at $1,930,370.48. The disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock worth $79,873,942 over the last 90 days. Company insiders own 0.32% of the company’s stock.
Shares of LULU opened at $172.78 on Friday. Lululemon Athletica inc. has a twelve month low of $103.80 and a twelve month high of $179.49. The firm has a market capitalization of $22.63 billion, a PE ratio of 44.99, a PEG ratio of 2.06 and a beta of 0.53.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business earned $1.33 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts anticipate that Lululemon Athletica inc. will post 4.67 earnings per share for the current fiscal year.
Lululemon Athletica announced that its Board of Directors has approved a stock buyback program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
LULU has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. BidaskClub cut shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. Nomura reissued a “neutral” rating and issued a $157.00 price target (up previously from $140.00) on shares of Lululemon Athletica in a research report on Tuesday, February 19th. They noted that the move was a valuation call. Oppenheimer raised their price target on shares of Lululemon Athletica from $190.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Cowen raised their price target on shares of Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon Athletica presently has an average rating of “Buy” and an average 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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