Acadian Asset Management LLC Makes New $1.01 Million Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Acadian Asset Management LLC purchased a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,387 shares of the apparel retailer’s stock, valued at approximately $1,011,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidemark LLC bought a new position in Lululemon Athletica in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Benjamin Edwards Inc. lifted its holdings in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the first quarter worth $29,000. Finally, Larson Financial Group LLC increased its holdings in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 43 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $265.30 on Tuesday. The firm has a 50-day moving average of $261.44 and a 200-day moving average of $322.65. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a market cap of $33.16 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last posted 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. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

LULU has been the topic of several recent research reports. Telsey Advisory Group cut their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Raymond James decreased their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Wells Fargo & Company reduced their price objective on shares of 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. Oppenheimer reissued an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 6th. Finally, Sanford C. Bernstein cut their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. 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 data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

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.