Bwcp LP Buys New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Bwcp LP bought a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,344 shares of the apparel retailer’s stock, valued at approximately $18,025,000. Lululemon Athletica accounts for about 4.5% of Bwcp LP’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in LULU. Envestnet Portfolio Solutions Inc. boosted its position in shares of Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after buying an additional 6,562 shares in the last quarter. Brookstone Capital Management grew its position in shares of Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after buying an additional 1,148 shares during the period. Gateway Investment Advisers LLC increased its stake in shares of Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Lululemon Athletica by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after acquiring an additional 321 shares during the period. Institutional investors own 85.20% of the company’s stock.

Insider Activity

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought 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 owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on LULU. Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Lululemon Athletica in a report on Monday, August 26th. Sanford C. Bernstein decreased their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Barclays reduced their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. TD Securities upped their target price on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $263.55 on Wednesday. The company has a market capitalization of $32.36 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a 50-day simple moving average of $258.67 and a 200 day simple moving average of $314.72.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock buyback program 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 programs are often an indication that the company’s management believes its shares are 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.