Trillium Asset Management LLC Has $10.52 Million Stake in Lululemon Athletica inc. (LULU)
Trillium Asset Management LLC cut its holdings in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 40.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,179 shares of the apparel retailer’s stock after selling 44,014 shares during the period. Trillium Asset Management LLC’s holdings in Lululemon Athletica were worth $10,517,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc lifted its position in Lululemon Athletica by 10.6% in the third quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after purchasing an additional 899,080 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Lululemon Athletica by 11,283.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 4,023,801 shares during the period. JPMorgan Chase & Co. lifted its position in Lululemon Athletica by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock worth $466,913,000 after purchasing an additional 328,478 shares during the period. Jennison Associates LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth approximately $314,834,000. Finally, Norges Bank acquired a new stake in Lululemon Athletica in the fourth quarter worth approximately $161,284,000. Institutional investors and hedge funds own 80.26% of the company’s stock.
NASDAQ:LULU traded up $1.01 during trading hours on Wednesday, reaching $171.69. The company’s stock had a trading volume of 6,689 shares, compared to its average volume of 1,503,033. The stock has a market capitalization of $22.27 billion, a PE ratio of 44.54, a P/E/G ratio of 1.96 and a beta of 0.53. Lululemon Athletica inc. has a one year low of $97.78 and a one year high of $179.49.
Lululemon Athletica announced that its board has authorized a stock buyback plan on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the sale, the insider now owns 11,294 shares in the company, valued at $1,930,370.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stuart Haselden sold 49,319 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock valued at $79,873,942 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
LULU has been the subject of a number of research analyst reports. BidaskClub downgraded Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. MKM Partners increased their price objective on Lululemon Athletica from $177.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, January 16th. Stifel Nicolaus increased their price objective on Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Canaccord Genuity reiterated a “buy” rating and set a $186.00 price objective (up previously from $163.00) on shares of Lululemon Athletica in a research report on Thursday, March 28th. Finally, Argus boosted their target price on shares of Lululemon Athletica to $195.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $174.90.
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Lululemon Athletica Company Profile
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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