Arrowstreet Capital Limited Partnership grew its position in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 481.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,741 shares of the apparel retailer’s stock after acquiring an additional 327,624 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lululemon Athletica were worth $31,101,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP boosted its position in Lululemon Athletica by 12.5% during the 3rd quarter. Korea Investment CORP now owns 410,800 shares of the apparel retailer’s stock worth $25,572,000 after acquiring an additional 45,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Lululemon Athletica by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 314,404 shares of the apparel retailer’s stock worth $18,760,000 after acquiring an additional 29,880 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $252,000. APG Asset Management N.V. boosted its position in Lululemon Athletica by 6.2% during the 3rd quarter. APG Asset Management N.V. now owns 177,188 shares of the apparel retailer’s stock worth $11,030,000 after acquiring an additional 10,300 shares during the last quarter. Finally, First Midwest Bank Trust Division acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $1,208,000. 78.70% of the stock is owned by hedge funds and other institutional investors.
Lululemon Athletica inc. (LULU) opened at $81.86 on Friday. The firm has a market capitalization of $10,942.68, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 2.08 and a beta of 0.26. Lululemon Athletica inc. has a 12-month low of $47.26 and a 12-month high of $83.31.
Lululemon Athletica declared that its board has authorized a stock repurchase program on Wednesday, December 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have weighed in on the company. SunTrust Banks upped their price target on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Zacks Investment Research downgraded Lululemon Athletica from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. MKM Partners increased their price objective on Lululemon Athletica from $89.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Robert W. Baird reissued an “in-line” rating and issued a $82.00 price objective (up previously from $72.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. Finally, Needham & Company LLC increased their price objective on Lululemon Athletica from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $73.95.
In other Lululemon Athletica news, major shareholder Dennis J. Wilson sold 722,134 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $77.47, for a total transaction of $55,943,720.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.
Lululemon Athletica Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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