Lululemon Athletica Inc. (NASDAQ:LULU) Stock Holdings Lessened by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 57.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 51,804 shares of the apparel retailer’s stock after selling 69,339 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Lululemon Athletica were worth $15,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $26,000. Benjamin Edwards Inc. raised its position in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares during the period. Riverview Trust Co purchased a new stake in Lululemon Athletica in the 1st quarter worth about $29,000. Larson Financial Group LLC grew its stake in Lululemon Athletica by 78.2% during 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 in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Lululemon Athletica by 2,950.0% in the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 59 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, 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 can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LULU shares. Morgan Stanley lowered their price objective on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a research report on Sunday, September 1st. Sanford C. Bernstein dropped 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. Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Citigroup dropped their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group lowered Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price target 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 issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $259.80 on Tuesday. The firm has a 50-day simple moving average of $259.24 and a 200 day simple moving average of $316.11. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The stock has a market cap of $32.48 billion, a PE ratio of 20.83, a PEG ratio of 1.38 and a beta of 1.25.

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

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.