AMF Tjanstepension AB Lowers Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

AMF Tjanstepension AB lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 47.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,205 shares of the apparel retailer’s stock after selling 26,407 shares during the quarter. AMF Tjanstepension AB’s holdings in Lululemon Athletica were worth $7,925,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LULU. Vanguard Group Inc. grew its holdings in Lululemon Athletica by 1.6% during the first quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after acquiring an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd grew its holdings in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after buying an additional 4,630,466 shares during the last quarter. American Century Companies Inc. increased its position in Lululemon Athletica by 4.9% during the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after buying an additional 82,731 shares in the last quarter. Capital World Investors raised its holdings in shares of Lululemon Athletica by 0.9% in the fourth quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock worth $791,371,000 after acquiring an additional 14,112 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Lululemon Athletica by 32.7% in the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock valued at $534,815,000 after acquiring an additional 257,944 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Down 2.2 %

Shares of Lululemon Athletica stock opened at $260.53 on Thursday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a market cap of $32.57 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The business has a fifty day simple moving average of $256.88 and a 200-day simple moving average of $307.51.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The business 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 firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. Analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on LULU. Robert W. Baird reduced their price objective on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. TD Cowen lowered their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. 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 note on Friday, August 30th. Finally, HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and upped their price target for the stock from $405.00 to $425.00 in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $354.55.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The disclosure for this sale can be found here. 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.