Acadian Asset Management LLC Acquires New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Acadian Asset Management LLC purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,387 shares of the apparel retailer’s stock, valued at approximately $1,011,000.

Other hedge funds have also made changes to their positions in the company. Tidemark LLC acquired a new position in Lululemon Athletica during the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $26,000. Richardson Financial Services Inc. acquired a new position in Lululemon Athletica during the 4th quarter valued at about $31,000. True Wealth Design LLC lifted its holdings in Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 59 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the topic of a number of analyst reports. Guggenheim cut their price target on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial reaffirmed a “buy” rating and set a $310.00 price target on shares of Lululemon Athletica in a research report on Wednesday, August 28th. Bank of America decreased their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday, August 30th. Robert W. Baird decreased their target price on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Raymond James lowered their price target on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Insider Buying and Selling

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Trading Down 0.5 %

Shares of NASDAQ:LULU opened at $265.30 on Tuesday. The firm has a 50 day moving average of $261.44 and a 200-day moving average of $322.65. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a market capitalization of $33.16 billion, a PE ratio of 21.28, a PEG ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica announced that its board has authorized a share repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.