Paloma Partners Management Co grew its position in Lululemon Athletica inc. (NASDAQ:LULU) by 44.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,986 shares of the apparel retailer’s stock after purchasing an additional 9,283 shares during the period. Paloma Partners Management Co’s holdings in Lululemon Athletica were worth $2,357,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Logan Capital Management Inc. lifted its stake in shares of Lululemon Athletica by 3.9% in the 4th quarter. Logan Capital Management Inc. now owns 17,490 shares of the apparel retailer’s stock valued at $1,375,000 after purchasing an additional 659 shares in the last quarter. Global X Management Co. LLC lifted its position in Lululemon Athletica by 22.4% during the 4th quarter. Global X Management Co. LLC now owns 3,933 shares of the apparel retailer’s stock worth $309,000 after acquiring an additional 719 shares in the last quarter. Amalgamated Bank lifted its position in Lululemon Athletica by 4.5% during the 4th quarter. Amalgamated Bank now owns 19,142 shares of the apparel retailer’s stock worth $1,504,000 after acquiring an additional 827 shares in the last quarter. First Republic Investment Management Inc. lifted its position in Lululemon Athletica by 26.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 5,035 shares of the apparel retailer’s stock worth $313,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Lululemon Athletica by 7.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,390 shares of the apparel retailer’s stock worth $958,000 after acquiring an additional 1,075 shares in the last quarter. 80.18% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on LULU. SunTrust Banks boosted their price target on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Zacks Investment Research lowered Lululemon Athletica from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. MKM Partners boosted their price target on Lululemon Athletica from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird reissued an “in-line” rating and set a $82.00 price target (up from $72.00) on shares of Lululemon Athletica in a research report on Thursday, December 7th. Finally, Needham & Company LLC boosted their price target on Lululemon Athletica from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica has an average rating of “Buy” and a consensus target price of $75.03.
Lululemon Athletica declared that its Board of Directors has approved a share buyback program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $77.47, for a total value of $55,943,720.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.
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Lululemon Athletica Company Profile
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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