Kentucky Retirement Systems Has $2.58 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Kentucky Retirement Systems cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,634 shares of the apparel retailer’s stock after selling 87 shares during the period. Kentucky Retirement Systems’ holdings in Lululemon Athletica were worth $2,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its stake in shares of Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after purchasing an additional 3,721 shares during the last quarter. Brookstone Capital Management lifted its stake in Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after acquiring an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Lululemon Athletica by 6.0% in the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after purchasing an additional 319 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Lululemon Athletica by 4.0% in the first quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after purchasing an additional 321 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Bank of America decreased their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Truist Financial reissued a “buy” rating and issued a $310.00 price objective on shares of Lululemon Athletica in a research report on Wednesday, August 28th. KeyCorp decreased their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, UBS Group cut their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Price Performance

LULU opened at $262.61 on Friday. The firm has a market capitalization of $32.83 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a fifty day moving average price of $259.72 and a 200-day moving average price of $319.30.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. On average, analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current 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 outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

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.