Meeder Asset Management Inc. raised its holdings in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 40.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,358 shares of the apparel retailer’s stock after acquiring an additional 3,288 shares during the period. Meeder Asset Management Inc.’s holdings in Lululemon Athletica were worth $1,863,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. AdvisorNet Financial Inc raised its stake in Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. DNB Asset Management AS raised its stake in Lululemon Athletica by 0.9% during the 4th quarter. DNB Asset Management AS now owns 11,137 shares of the apparel retailer’s stock valued at $1,354,000 after acquiring an additional 100 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Lululemon Athletica by 2.6% in the 4th quarter. First Mercantile Trust Co. now owns 3,900 shares of the apparel retailer’s stock worth $474,000 after buying an additional 100 shares in the last quarter. Telemus Capital LLC raised its stake in shares of Lululemon Athletica by 1.2% in the 4th quarter. Telemus Capital LLC now owns 10,124 shares of the apparel retailer’s stock worth $1,231,000 after buying an additional 119 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its stake in shares of Lululemon Athletica by 4.9% in the 1st quarter. Chartwell Investment Partners LLC now owns 3,269 shares of the apparel retailer’s stock worth $536,000 after buying an additional 153 shares in the last quarter. 80.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Dennis J. Wilson sold 155,800 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the transaction, the director now owns 3,852 shares in the company, valued at $556,344.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stuart Haselden sold 49,319 shares of Lululemon Athletica stock in a transaction on Friday, March 29th. The shares were sold at an average price of $164.62, for a total value of $8,118,893.78. Following the transaction, the chief operating officer now owns 24,685 shares in the company, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Insiders sold a total of 2,142,883 shares of company stock worth $316,468,220 over the last 90 days. Insiders own 0.32% of the company’s stock.
Shares of NASDAQ LULU opened at $169.33 on Wednesday. The firm has a market capitalization of $22.52 billion, a P/E ratio of 44.10, a P/E/G ratio of 2.07 and a beta of 0.52. Lululemon Athletica inc. has a 52-week low of $94.03 and a 52-week high of $173.32.
Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. Analysts anticipate that Lululemon Athletica inc. will post 4.62 earnings per share for the current fiscal year.
Lululemon Athletica declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
A number of research firms have recently commented on LULU. BidaskClub raised Lululemon Athletica from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on Lululemon Athletica from $147.00 to $176.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Zacks Investment Research raised Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price objective on the stock in a research note on Monday, April 1st. Argus boosted their price objective on Lululemon Athletica to $195.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Finally, Stifel Nicolaus boosted their price objective on Lululemon Athletica from $152.00 to $187.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. Lululemon Athletica presently has a consensus rating of “Buy” and an average price target of $167.91.
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Lululemon Athletica Profile
lululemon athletica, Inc engages in the design, distribution, and retail of athletic apparel and accessories. It company operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize athletic wear for female youth.
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