Blair William & Co. IL boosted its holdings in Lululemon Athletica inc. (NASDAQ:LULU) by 35.8% in the 1st quarter, HoldingsChannel reports. The fund owned 412,431 shares of the apparel retailer’s stock after acquiring an additional 108,837 shares during the quarter. Blair William & Co. IL’s holdings in Lululemon Athletica were worth $67,585,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in LULU. Oregon Public Employees Retirement Fund raised its position in Lululemon Athletica by 11,283.2% in the fourth 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 in the last quarter. Jennison Associates LLC raised its position in Lululemon Athletica by 144.2% in the first quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after acquiring an additional 3,732,291 shares in the last quarter. Norges Bank purchased a new position in Lululemon Athletica in the fourth quarter worth $161,284,000. Vanguard Group Inc raised its position in Lululemon Athletica by 10.6% in the third 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 in the last quarter. Finally, BlackRock Inc. raised its position in Lululemon Athletica by 6.3% in the first quarter. BlackRock Inc. now owns 5,896,520 shares of the apparel retailer’s stock worth $966,262,000 after acquiring an additional 350,808 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.
Lululemon Athletica stock opened at $176.71 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 2.05 and a beta of 0.60. Lululemon Athletica inc. has a fifty-two week low of $110.71 and a fifty-two week high of $182.89.
Lululemon Athletica announced that its board has approved a share repurchase plan on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
LULU has been the subject of several research analyst reports. Macquarie upgraded Lululemon Athletica from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. Jefferies Financial Group cut Lululemon Athletica to a “hold” rating and increased their price objective for the stock from $156.00 to $175.00 in a research report on Thursday. BidaskClub upgraded Lululemon Athletica from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Credit Suisse Group increased their price objective on Lululemon Athletica from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Bank of America increased their price objective on Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Twelve analysts have rated the stock with a hold rating, twenty-one 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 target price of $187.33.
In related news, insider Michelle Sun Choe sold 6,170 shares of the 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 of the company’s stock, valued at $1,930,370.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis J. Wilson sold 288,856 shares of the stock in a transaction on 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 sale, the director now directly owns 3,852 shares in the company, valued at approximately $600,103.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 519,344 shares of company stock worth $79,873,942. Corporate insiders own 0.32% of the company’s stock.
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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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