Lululemon Athletica Inc. (NASDAQ:LULU) Stock Holdings Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 7.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,790 shares of the apparel retailer’s stock after selling 312 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lululemon Athletica were worth $1,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valley National Advisers Inc. grew its position in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at $26,000. Benjamin Edwards Inc. lifted its stake in Lululemon Athletica by 176.0% in the 1st 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. Finally, Riverview Trust Co acquired a new stake in Lululemon Athletica during the 1st quarter worth about $29,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Trading Up 2.5 %

NASDAQ:LULU traded up $6.18 during mid-day trading on Friday, hitting $253.50. The company’s stock had a trading volume of 4,121,392 shares, compared to its average volume of 2,115,246. The company has a market capitalization of $31.69 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.26 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $245.59 and a fifty-two week high of $516.39. The stock has a fifty day moving average of $300.18 and a 200-day moving average of $377.32.

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

Lululemon Athletica announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LULU. JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research report on Thursday. BMO Capital Markets decreased their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. TD Securities dropped their price target on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Evercore ISI lowered their target price on Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Bank of America upped their target price on Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $416.26.

Lululemon Athletica Company 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.