Tredje AP fonden Has $10.27 Million Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Tredje AP fonden increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 255.2% in the second quarter, Holdings Channel.com reports. The firm owned 34,379 shares of the apparel retailer’s stock after purchasing an additional 24,700 shares during the quarter. Tredje AP fonden’s holdings in Lululemon Athletica were worth $10,269,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Moody National Bank Trust Division increased its position in shares of Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares in the last quarter. Congress Wealth Management LLC DE increased its holdings in Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after purchasing an additional 30 shares in the last quarter. Graypoint LLC raised its stake in shares of Lululemon Athletica by 5.1% in the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after purchasing an additional 34 shares during the last quarter. William Allan Corp lifted its holdings in shares of Lululemon Athletica by 0.8% in the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after purchasing an additional 37 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Lululemon Athletica by 50.7% during the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock valued at $58,000 after buying an additional 38 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LULU has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Lululemon Athletica in a research report on Monday, August 26th. Sanford C. Bernstein reduced their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Raymond James reduced their target price on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $268.41 on Wednesday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock has a market cap of $33.55 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The stock has a fifty day moving average of $261.01 and a 200-day moving average of $321.31.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has authorized a stock buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Company Profile

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.