Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,185 shares of the apparel retailer’s stock after buying an additional 2,456 shares during the period. Royal London Asset Management Ltd.’s holdings in Lululemon Athletica were worth $18,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. grew its stake in shares of Lululemon Athletica by 22.2% in the 4th quarter. QRG Capital Management Inc. now owns 4,033 shares of the apparel retailer’s stock valued at $2,062,000 after purchasing an additional 733 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Lululemon Athletica by 6.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 901 shares of the apparel retailer’s stock valued at $461,000 after buying an additional 58 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Lululemon Athletica by 25.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock valued at $418,000 after buying an additional 164 shares during the last quarter. Moran Wealth Management LLC acquired a new position in Lululemon Athletica in the 4th quarter valued at $254,000. Finally, Quotient Wealth Partners LLC purchased a new position in Lululemon Athletica during the 4th quarter worth $431,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on LULU shares. Truist Financial reaffirmed a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 28th. Robert W. Baird dropped their target price on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Sanford C. Bernstein reduced their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a report on Friday, August 30th. Wells Fargo & Company decreased their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Finally, Stifel Nicolaus cut their price objective on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Stock Performance

LULU stock opened at $255.20 on Thursday. The company has a 50 day moving average price of $263.45 and a two-hundred day moving average price of $327.92. The stock has a market capitalization of $31.90 billion, a P/E ratio of 20.47, a PEG ratio of 1.37 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a stock buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.