Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 57.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,804 shares of the apparel retailer’s stock after selling 69,339 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Lululemon Athletica were worth $15,474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Davidson Capital Management Inc. grew its position in Lululemon Athletica by 67,680.0% during the second quarter. Davidson Capital Management Inc. now owns 10,167 shares of the apparel retailer’s stock valued at $3,037,000 after acquiring an additional 10,152 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Lululemon Athletica by 14.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,018 shares of the apparel retailer’s stock worth $901,000 after purchasing an additional 389 shares in the last quarter. GM Advisory Group LLC increased its position in Lululemon Athletica by 3.3% during the 2nd quarter. GM Advisory Group LLC now owns 2,007 shares of the apparel retailer’s stock worth $599,000 after purchasing an additional 65 shares in the last quarter. Wealth Advisors of Tampa Bay LLC lifted its position in Lululemon Athletica by 19.6% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 3,237 shares of the apparel retailer’s stock valued at $967,000 after buying an additional 530 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Lululemon Athletica by 865.2% during the second quarter. Intech Investment Management LLC now owns 58,143 shares of the apparel retailer’s stock valued at $17,367,000 after buying an additional 52,119 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a report on Thursday, June 6th. 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. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a report on Thursday, July 25th. TD Securities upped their price target on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Truist Financial reiterated a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Two investment 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 stock. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $259.80 on Tuesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The business has a 50 day simple moving average of $259.24 and a 200 day simple moving average of $316.11. 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 released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. 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 buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.