60,344 Shares in Lululemon Athletica Inc. (NASDAQ:LULU) Purchased by Bwcp LP

Bwcp LP bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 60,344 shares of the apparel retailer’s stock, valued at approximately $18,025,000. Lululemon Athletica accounts for 4.5% of Bwcp LP’s portfolio, making the stock its 9th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after buying an additional 3,721 shares in the last quarter. XTX Topco Ltd increased its holdings in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after acquiring an additional 6,562 shares during the period. Brookstone Capital Management lifted its stake in Lululemon Athletica by 202.8% in the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Lululemon Athletica by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LULU shares. JPMorgan Chase & Co. lowered their price objective on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen lowered their price target on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Wedbush dropped their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $263.55 on Wednesday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company’s 50 day moving average price is $258.67 and its 200-day moving average price is $314.72. The stock has a market capitalization of $32.36 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 earnings per share. 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 of Directors has initiated a stock repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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.