Lululemon Athletica inc. (LULU) Major Shareholder Sells $211,007,500.00 in Stock

Lululemon Athletica inc. (NASDAQ:LULU) major shareholder Dennis J. Wilson sold 2,750,000 shares of Lululemon Athletica stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $76.73, for a total value of $211,007,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Dennis J. Wilson also recently made the following trade(s):

  • On Monday, February 12th, Dennis J. Wilson sold 722,134 shares of Lululemon Athletica stock. The stock was sold at an average price of $77.47, for a total value of $55,943,720.98.

Lululemon Athletica inc. (NASDAQ:LULU) traded up $3.95 during mid-day trading on Wednesday, hitting $81.22. The company’s stock had a trading volume of 3,190,296 shares, compared to its average volume of 1,763,848. Lululemon Athletica inc. has a 1 year low of $47.26 and a 1 year high of $83.31. The stock has a market cap of $10,397.11, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.26.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same quarter in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. research analysts predict that Lululemon Athletica inc. will post 2.53 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a share repurchase program on Wednesday, December 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of LULU. Suntrust Banks Inc. grew its holdings in shares of Lululemon Athletica by 5.9% during the 2nd quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock worth $252,000 after acquiring an additional 237 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Lululemon Athletica by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 314,404 shares of the apparel retailer’s stock worth $18,760,000 after acquiring an additional 29,880 shares during the period. State Street Corp grew its holdings in shares of Lululemon Athletica by 0.8% during the 2nd quarter. State Street Corp now owns 2,113,129 shares of the apparel retailer’s stock worth $126,101,000 after acquiring an additional 16,821 shares during the period. Scotia Capital Inc. grew its holdings in shares of Lululemon Athletica by 23.0% during the 2nd quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock worth $311,000 after acquiring an additional 978 shares during the period. Finally, USA Financial Portformulas Corp purchased a new position in shares of Lululemon Athletica during the 2nd quarter worth approximately $861,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

Several equities research analysts have issued reports on the company. SunTrust Banks lifted their price target on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research lowered Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. MKM Partners lifted their price target on Lululemon Athletica from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Robert W. Baird reaffirmed an “in-line” rating and set a $82.00 price target (up previously from $72.00) on shares of Lululemon Athletica in a research note on Thursday, December 7th. Finally, Needham & Company LLC lifted their price target on Lululemon Athletica from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $73.95.

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About Lululemon Athletica

lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.

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