Bridgewater Associates LP Has $38 Million Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Bridgewater Associates LP increased its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 33.8% during the third quarter, Holdings Channel.com reports. The fund owned 140,033 shares of the apparel retailer’s stock after buying an additional 35,357 shares during the period. Bridgewater Associates LP’s holdings in Lululemon Athletica were worth $37,998,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LULU. Larson Financial Group LLC lifted its position in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the period. Paladin Wealth LLC bought a new position in Lululemon Athletica during the third quarter worth $29,000. Versant Capital Management Inc lifted its holdings in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 40 shares during the period. JFS Wealth Advisors LLC boosted its position in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter worth about $33,000. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LULU. UBS Group lowered their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Raymond James lowered their price objective on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Wells Fargo & Company cut their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. KeyCorp decreased their price target on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, Morgan Stanley increased their price objective on shares of Lululemon Athletica from $314.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.13.

Lululemon Athletica Stock Down 2.4 %

Shares of NASDAQ LULU opened at $318.84 on Wednesday. The company has a market capitalization of $39.15 billion, a PE ratio of 24.64, a PEG ratio of 2.38 and a beta of 1.24. The stock’s 50 day moving average price is $294.07 and its 200-day moving average price is $287.62. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

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.