Public Sector Pension Investment Board Increases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Public Sector Pension Investment Board increased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 70.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,379 shares of the apparel retailer’s stock after purchasing an additional 1,816 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lululemon Athletica were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $266.45 on Wednesday. The company has a 50 day simple moving average of $257.11 and a 200-day simple moving average of $307.84. The firm has a market capitalization of $33.31 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39.

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. On average, analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved 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 usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LULU. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Guggenheim dropped their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Barclays dropped their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Wedbush dropped their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Finally, Telsey Advisory Group dropped their price objective on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $354.55.

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.