GWM Advisors LLC Has $1.19 Million Position in Lululemon Athletica inc. (NASDAQ:LULU)
GWM Advisors LLC lifted its holdings in Lululemon Athletica inc. (NASDAQ:LULU) by 192.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,288 shares of the apparel retailer’s stock after buying an additional 4,798 shares during the period. GWM Advisors LLC’s holdings in Lululemon Athletica were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in Lululemon Athletica by 11,283.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 4,023,801 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Lululemon Athletica by 144.2% during the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after purchasing an additional 3,732,291 shares during the last quarter. Norges Bank acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $161,284,000. Vanguard Group Inc lifted its holdings in shares of Lululemon Athletica by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after acquiring an additional 899,080 shares during the period. Finally, BlackRock Inc. raised its holdings in Lululemon Athletica by 6.3% in the first quarter. BlackRock Inc. now owns 5,896,520 shares of the apparel retailer’s stock valued at $966,262,000 after buying an additional 350,808 shares during the period. 80.78% of the stock is currently owned by institutional investors.
NASDAQ:LULU opened at $174.87 on Friday. The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60. Lululemon Athletica inc. has a fifty-two week low of $110.71 and a fifty-two week high of $182.89.
Lululemon Athletica announced that its board has authorized a share buyback program on Wednesday, March 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have commented on LULU. Nomura reaffirmed a “neutral” rating and issued a $157.00 price objective (up previously from $140.00) on shares of Lululemon Athletica in a report on Tuesday, February 19th. They noted that the move was a valuation call. BidaskClub cut Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Wedbush cut Lululemon Athletica from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $176.00 to $155.00 in a research note on Friday, March 22nd. Credit Suisse Group upped their price target on Lululemon Athletica from $172.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, DA Davidson upped their price target on Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, March 28th. Eleven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $187.33.
In related news, insider Michelle Sun Choe sold 6,170 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $170.92, for a total value of $1,054,576.40. Following the sale, the insider now directly owns 11,294 shares of the company’s stock, valued at $1,930,370.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of Lululemon Athletica stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $166.54, for a total value of $3,197,401.46. Following the sale, the executive vice president now directly owns 18,019 shares in the company, valued at $3,000,884.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is currently owned by corporate insiders.
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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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