Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 865.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,143 shares of the apparel retailer’s stock after purchasing an additional 52,119 shares during the quarter. Intech Investment Management LLC’s holdings in Lululemon Athletica were worth $17,367,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tidemark LLC acquired a new position in Lululemon Athletica during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at $26,000. Benjamin Edwards Inc. boosted its holdings in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica in the 1st quarter valued at $29,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU opened at $270.76 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The stock has a market capitalization of $33.85 billion, a PE ratio of 21.71, a P/E/G ratio of 1.38 and a beta of 1.25. The business’s 50 day moving average price is $260.28 and its 200 day moving average price is $320.61.

Lululemon Athletica (NASDAQ:LULU) last released 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 firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a report on Thursday, June 6th. Morgan Stanley lowered their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a report on Sunday, September 1st. UBS Group lowered their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Guggenheim lowered their price target on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, TD Cowen reduced their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. 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. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $354.94.

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.