Dimensional Fund Advisors LP Purchases 203,882 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Dimensional Fund Advisors LP boosted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 38.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 737,872 shares of the apparel retailer’s stock after purchasing an additional 203,882 shares during the period. Dimensional Fund Advisors LP owned about 0.59% of Lululemon Athletica worth $220,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in Lululemon Athletica by 25.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock worth $418,000 after acquiring an additional 164 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Lululemon Athletica by 3.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,199 shares of the apparel retailer’s stock valued at $613,000 after buying an additional 45 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Lululemon Athletica by 1.4% in the fourth quarter. Panagora Asset Management Inc. now owns 2,966 shares of the apparel retailer’s stock valued at $1,516,000 after buying an additional 42 shares during the last quarter. Norges Bank acquired a new position in Lululemon Athletica during the 4th quarter worth about $236,378,000. Finally, PNC Financial Services Group Inc. grew its holdings in Lululemon Athletica by 21.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,493 shares of the apparel retailer’s stock worth $7,921,000 after acquiring an additional 2,688 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LULU shares. Telsey Advisory Group dropped their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. UBS Group dropped their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Citigroup decreased their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Activity

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price 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 of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $270.20 on Thursday. The firm has a market cap of $33.78 billion, a PE ratio of 21.67, a P/E/G ratio of 1.38 and a beta of 1.25. The business’s 50 day simple moving average is $260.65 and its 200 day simple moving average is $320.96. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week 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, topping analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion for 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 firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 earnings per share. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.