State of Alaska Department of Revenue Cuts Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

State of Alaska Department of Revenue lessened its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,880 shares of the apparel retailer’s stock after selling 2,001 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lululemon Athletica were worth $4,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares in the last quarter. Maverick Capital Ltd. acquired a new position in Lululemon Athletica during the third quarter worth about $93,476,000. The Manufacturers Life Insurance Company grew its stake in Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after acquiring an additional 305,302 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Lululemon Athletica in the 3rd quarter valued at about $81,405,000. Finally, River Road Asset Management LLC purchased a new position in Lululemon Athletica in the 3rd quarter worth approximately $79,503,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LULU. Evercore ISI upped their price target on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Raymond James reaffirmed an “outperform” rating and issued a $430.00 target price (up from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. TD Securities boosted their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird boosted their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, TD Cowen increased their price target on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.67.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Performance

LULU stock opened at $398.10 on Friday. The company’s 50 day moving average price is $386.06 and its 200 day moving average price is $315.24. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.70 and a beta of 1.19. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 EPS. Equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Lululemon Athletica Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.