Pinebridge Investments L.P. grew its holdings in Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 68.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,409 shares of the apparel retailer’s stock after buying an additional 5,060 shares during the period. Pinebridge Investments L.P.’s holdings in Lululemon Athletica were worth $4,858,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Lululemon Athletica by 6.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 72,706 shares of the apparel retailer’s stock worth $11,914,000 after purchasing an additional 4,589 shares during the period. Planning Alternatives Ltd. ADV bought a new position in shares of Lululemon Athletica during the third quarter worth approximately $743,000. Commerce Bank increased its stake in shares of Lululemon Athletica by 1.7% during the third quarter. Commerce Bank now owns 2,451 shares of the apparel retailer’s stock worth $992,000 after purchasing an additional 41 shares during the period. CIBC Asset Management Inc increased its stake in shares of Lululemon Athletica by 0.6% during the third quarter. CIBC Asset Management Inc now owns 11,903 shares of the apparel retailer’s stock worth $4,817,000 after purchasing an additional 73 shares during the period. Finally, Sawtooth Solutions LLC increased its stake in shares of Lululemon Athletica by 16.0% during the third quarter. Sawtooth Solutions LLC now owns 697 shares of the apparel retailer’s stock worth $282,000 after purchasing an additional 96 shares during the period. 85.48% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on LULU. Cowen lowered their target price on Lululemon Athletica from $507.00 to $497.00 in a research note on Thursday, April 21st. Cowen lowered their price objective on Lululemon Athletica from $507.00 to $497.00 in a research note on Thursday, April 21st. StockNews.com began coverage on Lululemon Athletica in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Lululemon Athletica from $428.00 to $423.00 and set a “buy” rating on the stock in a research note on Thursday, April 21st. Finally, Truist Financial upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price objective for the stock from $390.00 to $495.00 in a research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Buy” and an average target price of $444.69.
Lululemon Athletica (NASDAQ:LULU – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The apparel retailer reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.10. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Lululemon Athletica had a return on equity of 37.92% and a net margin of 15.59%. Lululemon Athletica’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. Equities research analysts anticipate that Lululemon Athletica Inc. will post 9.33 EPS for the current year.
Lululemon Athletica declared that its Board of Directors has approved a stock buyback program on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Lululemon Athletica Company Profile (Get Rating)
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.
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