AMF Tjanstepension AB Sells 22,820 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

AMF Tjanstepension AB lessened its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 47.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,390 shares of the apparel retailer’s stock after selling 22,820 shares during the quarter. AMF Tjanstepension AB’s holdings in Lululemon Athletica were worth $9,919,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $1,114,000. Rockline Wealth Management LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $1,503,000. Advisory Services Network LLC increased its stake in Lululemon Athletica by 6.0% in the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after purchasing an additional 319 shares during the period. HB Wealth Management LLC increased its stake in Lululemon Athletica by 10.9% in the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock worth $871,000 after purchasing an additional 168 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Lululemon Athletica by 42.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after buying an additional 805 shares during the period. Institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

LULU has been the topic of several research analyst reports. Jefferies Financial Group reduced their target price on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a research note on Thursday, April 4th. BMO Capital Markets decreased their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a report on Thursday, June 6th. KeyCorp decreased their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Needham & Company LLC decreased their price objective on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, BTIG Research assumed coverage on Lululemon Athletica in a research note on Wednesday, May 8th. They issued a “buy” rating and a $425.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $433.06.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $298.70 on Friday. The stock has a market capitalization of $37.34 billion, a PE ratio of 23.95, a P/E/G ratio of 1.53 and a beta of 1.27. The business has a 50 day simple moving average of $327.07 and a two-hundred day simple moving average of $408.18. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. On average, analysts anticipate 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 share buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Lululemon Athletica 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.