Los Angeles Capital Management LLC Has $83.71 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Los Angeles Capital Management LLC lessened its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 280,259 shares of the apparel retailer’s stock after selling 51,845 shares during the quarter. Los Angeles Capital Management LLC owned 0.22% of Lululemon Athletica worth $83,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth $1,114,000. Envestnet Portfolio Solutions Inc. grew its stake 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 buying an additional 3,721 shares in the last quarter. Brookstone Capital Management increased its holdings in Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after buying an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Lululemon Athletica by 9.7% during the second 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 in the last quarter. Finally, Advisory Services Network LLC lifted its stake in Lululemon Athletica by 6.0% in the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Up 0.1 %

Shares of NASDAQ:LULU traded up $0.14 during mid-day trading on Friday, reaching $253.84. 2,589,521 shares of the stock were exchanged, compared to its average volume of 2,143,810. The stock’s 50 day simple moving average is $266.51 and its 200-day simple moving average is $332.93. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a market cap of $31.73 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $2.68 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Lululemon Athletica Inc. will post 13.9 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a stock repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

LULU has been the topic of several analyst reports. KeyCorp dropped their price target on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Wedbush cut their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Oppenheimer reiterated an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. Sanford C. Bernstein cut their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Finally, Citigroup reduced their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

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.