State of Alaska Department of Revenue Lowers Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

State of Alaska Department of Revenue reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,880 shares of the apparel retailer’s stock after selling 2,001 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lululemon Athletica were worth $4,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LULU. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica during the third quarter valued at $953,000. Rheos Capital Works Inc. increased its position in Lululemon Athletica by 19.2% during the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Lululemon Athletica by 198.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after purchasing an additional 4,564 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Lululemon Athletica by 50.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after purchasing an additional 34,704 shares during the period. Finally, Touchstone Capital Inc. bought a new position in shares of Lululemon Athletica during the third quarter valued at approximately $4,084,000. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $398.10 on Friday. The firm’s fifty day moving average is $386.06 and its two-hundred day moving average is $315.24. The firm has a market cap of $48.48 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.70 and a beta of 1.19. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $2.53 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on LULU. BMO Capital Markets upped their target price on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. Raymond James reiterated an “outperform” rating and issued a $430.00 target price (up previously from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.67.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.