Meeder Asset Management Inc. increased its holdings in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 40.7% in the 1st quarter, Holdings Channel reports. The firm owned 11,358 shares of the apparel retailer’s stock after acquiring an additional 3,288 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lululemon Athletica were worth $1,863,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of LULU. AdvisorNet Financial Inc increased its stake in Lululemon Athletica by 70.8% during the fourth quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 85 shares during the period. Semmax Financial Advisors Inc. bought a new position in Lululemon Athletica during the fourth quarter valued at about $25,000. Oregon Public Employees Retirement Fund increased its stake in Lululemon Athletica by 11,283.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 4,023,801 shares during the period. PRW Wealth Management LLC bought a new position in Lululemon Athletica during the fourth quarter valued at about $34,000. Finally, Exane Derivatives increased its stake in Lululemon Athletica by 32,600.0% during the fourth quarter. Exane Derivatives now owns 327 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 326 shares during the period. 80.47% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. MKM Partners boosted their price target on Lululemon Athletica from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price target on the stock in a research note on Monday, April 1st. DA Davidson boosted their price target on Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. BidaskClub upgraded Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 22nd. Finally, Wells Fargo & Co lowered their price target on Lululemon Athletica from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Lululemon Athletica presently has an average rating of “Buy” and a consensus target price of $167.91.
LULU stock opened at $169.33 on Wednesday. Lululemon Athletica inc. has a 1-year low of $94.03 and a 1-year high of $173.32. The company has a market capitalization of $22.52 billion, a PE ratio of 44.10, a P/E/G ratio of 2.07 and a beta of 0.52.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. Lululemon Athletica’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. On average, sell-side analysts predict that Lululemon Athletica inc. will post 4.62 earnings per share for the current year.
Lululemon Athletica announced that its board has approved a share buyback program on Wednesday, March 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
About Lululemon Athletica
lululemon athletica, Inc engages in the design, distribution, and retail of athletic apparel and accessories. It company operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize athletic wear for female youth.
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