Pacer Advisors Inc. Acquires 11,126 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Pacer Advisors Inc. lifted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 75.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,889 shares of the apparel retailer’s stock after purchasing an additional 11,126 shares during the quarter. Pacer Advisors Inc.’s holdings in Lululemon Athletica were worth $7,733,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LULU. Assetmark Inc. increased its stake in Lululemon Athletica by 51.8% in the fourth quarter. Assetmark Inc. now owns 944 shares of the apparel retailer’s stock valued at $483,000 after acquiring an additional 322 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Lululemon Athletica by 17.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 12,520 shares of the apparel retailer’s stock valued at $6,401,000 after acquiring an additional 1,870 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Lululemon Athletica by 11.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,564 shares of the apparel retailer’s stock valued at $2,243,000 after acquiring an additional 480 shares during the last quarter. Advisory Services Network LLC increased its stake in 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 acquiring an additional 319 shares during the last quarter. Finally, Congress Wealth Management LLC DE increased its stake in Lululemon Athletica by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after acquiring an additional 30 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Trading Down 1.1 %

Shares of NASDAQ LULU opened at $259.80 on Tuesday. The firm’s 50-day moving average price is $259.24 and its 200-day moving average price is $316.11. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a market capitalization of $32.48 billion, a P/E ratio of 20.83, a P/E/G 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 earnings per share 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 firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. TD Cowen decreased their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Robert W. Baird decreased their target price on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, UBS Group decreased their target price on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Company 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.