SkyOak Wealth LLC cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,794 shares of the apparel retailer’s stock after selling 307 shares during the quarter. SkyOak Wealth LLC’s holdings in Lululemon Athletica were worth $835,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Value Star Asset Management Hong Kong Ltd grew its holdings in shares of Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares during the period. Norges Bank bought a new position in Lululemon Athletica during the fourth quarter valued at about $236,378,000. Northern Trust Corp increased its holdings in Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Lululemon Athletica by 2,485.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 238,664 shares of the apparel retailer’s stock worth $122,027,000 after acquiring an additional 229,433 shares during the period. 85.20% of the stock is owned by institutional investors.
Insider Activity
In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company’s stock.
Lululemon Athletica Stock Performance
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 earnings per share. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.
Lululemon Athletica declared that its board has approved a share repurchase plan on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Raymond James decreased their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Citigroup lowered their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company cut their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group restated an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research note on Thursday, July 25th. Finally, Piper Sandler increased their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.
Check Out Our Latest Report on LULU
Lululemon Athletica Company 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.
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