Texas Permanent School Fund Corp Has $5.67 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Texas Permanent School Fund Corp lowered its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,990 shares of the apparel retailer’s stock after selling 4,747 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Lululemon Athletica were worth $5,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth about $1,114,000. Envestnet Portfolio Solutions Inc. increased its holdings in Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after purchasing an additional 3,721 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after buying an additional 3,077 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after buying an additional 319 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LULU. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research note on Thursday, July 25th. KeyCorp dropped their price target on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Piper Sandler increased their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Telsey Advisory Group dropped their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Up 1.9 %

LULU stock opened at $260.14 on Friday. The stock has a 50-day simple moving average of $262.64 and a two-hundred day simple moving average of $327.44. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The firm has a market capitalization of $32.52 billion, a PE ratio of 20.86, a PEG ratio of 1.37 and a beta of 1.25.

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

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About Lululemon Athletica

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.