State of Michigan Retirement System Has $14.08 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

State of Michigan Retirement System boosted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,808 shares of the apparel retailer’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Lululemon Athletica were worth $14,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Lululemon Athletica in the fourth quarter valued at about $32,000. Sound Income Strategies LLC increased its holdings in Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Asset Planning Inc acquired a new position in Lululemon Athletica in the fourth quarter valued at about $33,000. Finally, Golden State Wealth Management LLC bought a new position in Lululemon Athletica during the fourth quarter worth about $36,000. 85.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target on the stock in a research report on Friday, January 10th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Oppenheimer lifted their price target on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and issued a $438.00 price objective (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Finally, Truist Financial lifted their target price on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $399.14.

Lululemon Athletica Stock Performance

LULU opened at $345.29 on Wednesday. The firm has a market cap of $42.05 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The business’s fifty day moving average is $385.29 and its 200-day moving average is $331.52. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94.

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

Insider Buying and Selling at Lululemon Athletica

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