Public Employees Retirement System of Ohio Takes $28.52 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Public Employees Retirement System of Ohio bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 105,093 shares of the apparel retailer’s stock, valued at approximately $28,517,000. Public Employees Retirement System of Ohio owned 0.09% of Lululemon Athletica at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Shepherd Financial Partners LLC acquired a new stake in shares of Lululemon Athletica during the third quarter valued at about $953,000. XTX Topco Ltd increased its holdings in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares in the last quarter. Rheos Capital Works Inc. boosted its stake in shares of Lululemon Athletica by 19.2% during the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after buying an additional 2,500 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after buying an additional 4,564 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LULU. Barclays increased their price objective on shares of Lululemon Athletica from $261.00 to $378.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial lifted their price target on Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America cut their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Piper Sandler lifted their target price on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Lululemon Athletica Price Performance

LULU opened at $404.79 on Tuesday. The business has a 50 day moving average price of $308.46 and a two-hundred day moving average price of $288.72. The company has a market capitalization of $49.70 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Equities analysts expect that Lululemon Athletica Inc. will post 14.19 EPS for the current fiscal year.

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.