Retirement Systems of Alabama Has $9.90 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Retirement Systems of Alabama cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,345 shares of the apparel retailer’s stock after selling 34 shares during the period. Retirement Systems of Alabama’s holdings in Lululemon Athletica were worth $9,901,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norden Group LLC bought a new stake in shares of Lululemon Athletica during the 1st quarter worth about $2,412,000. Van ECK Associates Corp boosted its position in Lululemon Athletica by 9.1% during the first quarter. Van ECK Associates Corp now owns 38,301 shares of the apparel retailer’s stock worth $14,962,000 after purchasing an additional 3,199 shares during the period. HB Wealth Management LLC grew its holdings in Lululemon Athletica by 58.5% during the first quarter. HB Wealth Management LLC now owns 2,700 shares of the apparel retailer’s stock valued at $1,055,000 after purchasing an additional 997 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Lululemon Athletica by 2,442.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,856 shares of the apparel retailer’s stock valued at $1,897,000 after purchasing an additional 4,665 shares during the period. Finally, Perigon Wealth Management LLC lifted its stake in shares of Lululemon Athletica by 19.9% in the first quarter. Perigon Wealth Management LLC now owns 1,592 shares of the apparel retailer’s stock worth $622,000 after buying an additional 264 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Wells Fargo & Company lowered their price target on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Piper Sandler cut their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Sanford C. Bernstein increased their target price on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. Finally, Citigroup dropped their price target on Lululemon Athletica from $500.00 to $415.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $431.94.

Lululemon Athletica Stock Down 0.7 %

NASDAQ:LULU traded down $2.18 on Friday, reaching $298.14. The stock had a trading volume of 1,251,047 shares, compared to its average volume of 2,053,232. The company has a market capitalization of $37.27 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The stock has a fifty day moving average price of $322.14 and a 200-day moving average price of $402.73. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $2.28 EPS. Sell-side analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a stock 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 repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign 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.