Lululemon Athletica Inc. (NASDAQ:LULU) Position Lessened by Andra AP fonden

Andra AP fonden reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 22.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,300 shares of the apparel retailer’s stock after selling 18,500 shares during the period. Andra AP fonden’s holdings in Lululemon Athletica were worth $18,609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LULU. Sheaff Brock Investment Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $1,114,000. Envestnet Portfolio Solutions Inc. boosted its holdings in 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 purchasing an additional 3,721 shares in the last quarter. Brookstone Capital Management increased its position in Lululemon Athletica by 202.8% during the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after buying an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after buying an additional 3,077 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after buying an additional 319 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Lululemon Athletica Trading Down 2.1 %

Shares of NASDAQ:LULU opened at $248.59 on Tuesday. The stock has a market capitalization of $30.52 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.37 and a beta of 1.25. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The business has a 50-day moving average price of $265.44 and a two-hundred day moving average price of $329.91.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its board has approved a stock buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

LULU has been the topic of a number of analyst reports. Raymond James lowered their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, September 2nd. Morgan Stanley dropped their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a research report on Sunday, September 1st. JPMorgan Chase & Co. decreased their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 28th. Finally, Guggenheim decreased their price target on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $354.94.

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.