Canada Pension Plan Investment Board Sells 45,400 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Canada Pension Plan Investment Board lowered its position in Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 44.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,000 shares of the apparel retailer’s stock after selling 45,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Lululemon Athletica were worth $21,980,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Union Savings Bank purchased a new position in Lululemon Athletica during the second quarter valued at approximately $25,000. Milestone Investment Advisors LLC bought a new position in Lululemon Athletica in the third quarter worth about $27,000. Bogart Wealth LLC boosted its holdings in shares of Lululemon Athletica by 270.0% in the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Founders Capital Management purchased a new position in shares of Lululemon Athletica in the 3rd quarter worth approximately $39,000. Finally, PCA Investment Advisory Services Inc. purchased a new stake in Lululemon Athletica during the second quarter valued at approximately $43,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on LULU. Raymond James upped their price objective on shares of Lululemon Athletica from $495.00 to $520.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. UBS Group upped their price target on shares of Lululemon Athletica from $429.00 to $470.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. KeyCorp lifted their price objective on shares of Lululemon Athletica from $500.00 to $570.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and cut their target price for the company from $430.00 to $415.00 in a research report on Friday. Finally, Needham & Company LLC lifted their price target on Lululemon Athletica from $470.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $500.55.

Read Our Latest Analysis on LULU

Lululemon Athletica Stock Performance

LULU opened at $470.24 on Monday. The company has a market cap of $59.34 billion, a PE ratio of 59.83, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The stock has a 50-day moving average of $485.11 and a 200-day moving average of $426.33. Lululemon Athletica Inc. has a 52-week low of $286.58 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its earnings results on Thursday, December 7th. The apparel retailer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.25. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Lululemon Athletica had a net margin of 10.89% and a return on equity of 44.81%. The firm’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. On average, research analysts predict that Lululemon Athletica Inc. will post 12.47 earnings per share for the current year.

Lululemon Athletica declared that its board has approved a share buyback plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 1.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Lululemon Athletica news, CFO Meghan Frank sold 1,553 shares of Lululemon Athletica stock in a transaction on Monday, December 18th. The shares were sold at an average price of $500.00, for a total transaction of $776,500.00. Following the completion of the sale, the chief financial officer now owns 8,381 shares of the company’s stock, valued at approximately $4,190,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Lululemon Athletica news, CFO Meghan Frank sold 1,553 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $500.00, for a total value of $776,500.00. Following the completion of the transaction, the chief financial officer now directly owns 8,381 shares in the company, valued at $4,190,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 705 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $500.00, for a total value of $352,500.00. Following the sale, the insider now owns 3,996 shares in the company, valued at approximately $1,998,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,658 shares of company stock worth $21,183,956. Insiders own 0.54% of the company’s stock.

About Lululemon Athletica

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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