Public Sector Pension Investment Board Boosts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Public Sector Pension Investment Board grew its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 70.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,379 shares of the apparel retailer’s stock after buying an additional 1,816 shares during the period. Public Sector Pension Investment Board’s holdings in Lululemon Athletica were worth $1,308,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. XTX Topco Ltd boosted its position in shares of 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 period. Envestnet Portfolio Solutions Inc. boosted its position in 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 buying an additional 3,721 shares during the period. Brookstone Capital Management boosted its position in Lululemon Athletica by 202.8% in the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after buying an additional 1,148 shares during the period. Gateway Investment Advisers LLC boosted its position in Lululemon Athletica by 9.7% in the 2nd 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 during the period. Finally, Nordea Investment Management AB boosted its position in Lululemon Athletica by 4.0% in the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $266.45 on Wednesday. The firm has a 50 day simple moving average of $257.11 and a 200-day simple moving average of $307.84. The firm has a market cap of $33.31 billion, a PE ratio of 21.37, a P/E/G ratio of 1.40 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.

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

Lululemon Athletica announced that its board has initiated a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. 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 research report on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. BMO Capital Markets cut their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, TD Securities lifted their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.55.

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.