Ensign Peak Advisors Inc Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Ensign Peak Advisors Inc increased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 107,467 shares of the apparel retailer’s stock after purchasing an additional 9,894 shares during the period. Ensign Peak Advisors Inc’s holdings in Lululemon Athletica were worth $32,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its stake 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 valued at $4,607,000 after acquiring an additional 3,721 shares during the last quarter. XTX Topco Ltd raised its stake in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares during the last quarter. Brookstone Capital Management raised its stake in Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after acquiring an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after acquiring an additional 319 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 3.0 %

NASDAQ LULU opened at $262.61 on Monday. The business’s 50-day moving average price is $259.72 and its 200 day moving average price is $317.50. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market capitalization of $32.83 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. Equities analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 approximately $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on LULU. TD Securities raised their price target on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus lowered their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. KeyCorp decreased their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.