Fisher Asset Management LLC Has $3.22 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Fisher Asset Management LLC grew its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,296 shares of the apparel retailer’s stock after purchasing an additional 361 shares during the period. Fisher Asset Management LLC’s holdings in Lululemon Athletica were worth $3,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley National Advisers Inc. raised its stake in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the period. Tidemark LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at approximately $31,000. Finally, Richardson Financial Services Inc. bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $31,000. 85.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LULU. Guggenheim reduced their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Morgan Stanley lowered their target price on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Wedbush lifted their price target on Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. KeyCorp reduced their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Needham & Company LLC dropped their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $433.06.

Lululemon Athletica Price Performance

LULU stock opened at $310.77 on Friday. Lululemon Athletica Inc. has a one year low of $293.03 and a one year high of $516.39. The stock has a market cap of $38.85 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.27. The company has a fifty day moving average price of $331.26 and a two-hundred day moving average price of $415.06.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a stock buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Martha A. M. Morfitt purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

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.