Kentucky Retirement Systems Sells 87 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Kentucky Retirement Systems lowered its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,634 shares of the apparel retailer’s stock after selling 87 shares during the quarter. Kentucky Retirement Systems’ holdings in Lululemon Athletica were worth $2,579,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LULU. Vanguard Group Inc. boosted its stake in shares of Lululemon Athletica by 1.6% during the first quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock valued at $3,847,103,000 after purchasing an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd boosted its position in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after buying an additional 4,630,466 shares during the period. American Century Companies Inc. boosted its position in Lululemon Athletica by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock valued at $528,429,000 after buying an additional 82,731 shares during the period. Capital World Investors grew its holdings in Lululemon Athletica by 0.9% in the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock worth $791,371,000 after acquiring an additional 14,112 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Lululemon Athletica by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock valued at $445,268,000 after acquiring an additional 18,924 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 3.0 %

Shares of LULU opened at $262.61 on Friday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The business’s fifty day simple moving average is $259.72 and its two-hundred day simple moving average is $319.30. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm posted $2.68 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

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

Insider Activity

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LULU has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Piper Sandler boosted their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Raymond James decreased 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. UBS Group cut their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, Guggenheim dropped their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Two 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

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.