Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 92.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 106,730 shares of the apparel retailer’s stock after purchasing an additional 51,355 shares during the period. AQR Capital Management LLC owned 0.09% of Lululemon Athletica worth $31,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings 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 during the last quarter. XTX Topco Ltd raised its stake in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares during the last quarter. Brookstone Capital Management raised its stake in Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after acquiring an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Lululemon Athletica by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after acquiring an additional 321 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Up 4.2 %

LULU stock opened at $280.01 on Monday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock’s fifty day simple moving average is $257.68 and its 200-day simple moving average is $310.64. The stock has a market capitalization of $35.00 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25.

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

Lululemon Athletica declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a research note on Sunday, September 1st. Barclays reduced their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Piper Sandler upped their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Telsey Advisory Group reduced their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Finally, Truist Financial reissued a “buy” rating and set a $310.00 target price on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price 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 directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

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.