Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 77.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,974 shares of the apparel retailer’s stock after selling 87,607 shares during the quarter. Retirement Systems of Alabama’s holdings in Lululemon Athletica were worth $6,777,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Value Star Asset Management Hong Kong Ltd boosted its stake in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after buying an additional 4,630,466 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica during the third quarter worth approximately $93,476,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Lululemon Athletica by 136.3% during the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in Lululemon Athletica during the 3rd quarter worth $81,405,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 0.2 %

Lululemon Athletica stock opened at $390.59 on Wednesday. The company’s 50-day moving average price is $323.44 and its two-hundred day moving average price is $292.55. The stock has a market cap of $47.57 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 earnings per share. Research analysts expect that Lululemon Athletica Inc. will post 14.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America dropped their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. TD Securities boosted their price target on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets boosted their target price on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Guggenheim raised their target price on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Robert W. Baird increased their target price on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on 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 directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade 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 link. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. The trade was a 66.68 % 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 company 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.