Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 24.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,800 shares of the apparel retailer’s stock after selling 1,521 shares during the quarter. Cullinan Associates Inc.’s holdings in Lululemon Athletica were worth $1,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Lululemon Athletica by 37.9% in the third quarter. AQR Capital Management LLC now owns 94,048 shares of the apparel retailer’s stock worth $36,266,000 after acquiring an additional 25,864 shares in the last quarter. Truist Financial Corp grew its position in Lululemon Athletica by 46.4% during the 3rd quarter. Truist Financial Corp now owns 51,050 shares of the apparel retailer’s stock worth $19,685,000 after purchasing an additional 16,178 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Lululemon Athletica by 5.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 911 shares of the apparel retailer’s stock valued at $351,000 after purchasing an additional 43 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Lululemon Athletica by 2.7% in the third quarter. Advisors Asset Management Inc. now owns 4,944 shares of the apparel retailer’s stock valued at $1,906,000 after purchasing an additional 129 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Lululemon Athletica by 34.5% during the third quarter. Ameriprise Financial Inc. now owns 668,087 shares of the apparel retailer’s stock valued at $257,627,000 after buying an additional 171,227 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

LULU opened at $301.67 on Wednesday. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.49 and a beta of 1.26. The firm’s 50-day simple moving average is $325.88 and its 200-day simple moving average is $405.51. Lululemon Athletica Inc. has a twelve month low of $293.03 and a twelve month high of $516.39.

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

Lululemon Athletica declared that its board has initiated a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

LULU has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Lululemon Athletica from $410.00 to $416.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. BTIG Research began coverage on shares of Lululemon Athletica in a research report on Wednesday, May 8th. They set a “buy” rating and a $425.00 price objective on the stock. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. KeyCorp cut their price target on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley lowered their target price 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. Two research 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. Based on data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $433.06.

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.