New York State Teachers Retirement System Acquires 6,179 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

New York State Teachers Retirement System raised its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 112,191 shares of the apparel retailer’s stock after buying an additional 6,179 shares during the quarter. New York State Teachers Retirement System’s holdings in Lululemon Athletica were worth $33,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LULU. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the period. Norges Bank purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at $236,378,000. Northern Trust Corp raised its stake in shares of Lululemon Athletica by 32.7% in the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock valued at $534,815,000 after acquiring an additional 257,944 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lululemon Athletica by 61.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock valued at $334,072,000 after acquiring an additional 249,232 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Lululemon Athletica by 2,485.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 238,664 shares of the apparel retailer’s stock valued at $122,027,000 after acquiring an additional 229,433 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LULU shares. Sanford C. Bernstein increased their target price on shares of Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. TD Securities reduced 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. UBS Group reduced their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Wedbush raised their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.35.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $268.55 on Friday. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The company has a 50 day moving average price of $276.40 and a 200-day moving average price of $346.81. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The firm had revenue of $2.21 billion during 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 business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. On average, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a stock repurchase plan 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 plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.