Wellington Management Group LLP Sells 576,701 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Wellington Management Group LLP cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 43.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,377 shares of the apparel retailer’s stock after selling 576,701 shares during the period. Wellington Management Group LLP owned about 0.60% of Lululemon Athletica worth $389,796,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Processus Wealth & Capital Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $1,810,000. Richardson Financial Services Inc. acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $31,000. Shorepath Capital Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $3,226,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Finally, American International Group Inc. lifted its position in shares of Lululemon Athletica by 378.9% in the 4th quarter. American International Group Inc. now owns 39,616 shares of the apparel retailer’s stock worth $20,255,000 after purchasing an additional 31,343 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Trading Up 2.3 %

LULU stock opened at $312.91 on Tuesday. The company’s 50 day moving average is $333.69 and its 200 day moving average is $417.59. The stock has a market cap of $39.11 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $2.28 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LULU shares. Morgan Stanley dropped their price target on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Bank of America boosted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Oppenheimer reiterated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. Robert W. Baird dropped their target price on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Finally, Jefferies Financial Group dropped their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $433.06.

Insider Transactions at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.