Lululemon Athletica Inc. (NASDAQ:LULU) Stake Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 35.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,361 shares of the apparel retailer’s stock after selling 22,998 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lululemon Athletica were worth $12,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidemark LLC bought a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Benjamin Edwards Inc. raised its position in Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. Riverview Trust Co bought a new stake in Lululemon Athletica in the first quarter worth about $29,000. Finally, Larson Financial Group LLC raised its position in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen cut their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Raymond James cut their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, September 2nd. Wedbush cut their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Oppenheimer restated an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. Finally, The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their target price for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired 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 owns 89,922 shares in the company, valued at approximately $23,379,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Up 2.5 %

Shares of Lululemon Athletica stock opened at $266.76 on Friday. The stock has a market capitalization of $32.75 billion, a P/E ratio of 21.39, a PEG ratio of 1.38 and a beta of 1.25. The stock has a 50 day moving average price of $262.01 and a two-hundred day moving average price of $326.05. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results 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 company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 earnings per share. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

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

Lululemon Athletica 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.