Thrivent Financial for Lutherans Purchases 1,714 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Thrivent Financial for Lutherans raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,602 shares of the apparel retailer’s stock after purchasing an additional 1,714 shares during the period. Thrivent Financial for Lutherans owned approximately 0.17% of Lululemon Athletica worth $65,297,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Lululemon Athletica by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after buying an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd grew its stake in Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the period. American Century Companies Inc. raised its position in shares of Lululemon Athletica by 4.9% during the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the period. Capital World Investors lifted its holdings in shares of Lululemon Athletica by 0.9% during the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after purchasing an additional 14,112 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Lululemon Athletica by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock valued at $445,268,000 after purchasing an additional 18,924 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired 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 of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Down 3.0 %

Shares of NASDAQ LULU opened at $262.61 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market cap of $32.83 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The business’s 50 day moving average price is $259.72 and its two-hundred day moving average price is $318.42.

Lululemon Athletica (NASDAQ:LULU) last posted 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. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $2.68 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LULU. Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Piper Sandler raised their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 6th. BMO Capital Markets dropped their price target on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group lowered Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

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.