Mackenzie Financial Corp Takes $232,000 Position in lululemon athletica inc. (LULU)
Mackenzie Financial Corp acquired a new stake in lululemon athletica inc. (NASDAQ:LULU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,727 shares of the apparel retailer’s stock, valued at approximately $232,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in lululemon athletica by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock worth $468,413,000 after purchasing an additional 233,035 shares during the period. BlackRock Inc. boosted its stake in lululemon athletica by 4.4% in the 2nd quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock worth $320,629,000 after purchasing an additional 228,068 shares during the period. HS Management Partners LLC boosted its stake in lululemon athletica by 36.4% in the 2nd quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock worth $165,613,000 after purchasing an additional 741,200 shares during the period. Janus Henderson Group PLC boosted its stake in lululemon athletica by 16,053.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock worth $156,010,000 after purchasing an additional 2,598,364 shares during the period. Finally, Eaton Vance Management acquired a new position in lululemon athletica in the 2nd quarter worth $126,967,000. Institutional investors and hedge funds own 79.45% of the company’s stock.
LULU has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of lululemon athletica from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Vetr raised shares of lululemon athletica from a “buy” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Monday, August 21st. Bank of America raised shares of lululemon athletica from an “underperform” rating to a “buy” rating and upped their target price for the stock from $48.00 to $70.00 in a research note on Monday, August 21st. Cowen set a $67.00 target price on shares of lululemon athletica and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $66.00 target price on shares of lululemon athletica in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $70.21.
lululemon athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. lululemon athletica had a net margin of 10.96% and a return on equity of 22.52%. The business had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. During the same period last year, the business posted $0.50 EPS. lululemon athletica’s revenue was up 13.7% on a year-over-year basis. equities research analysts expect that lululemon athletica inc. will post 2.48 EPS for the current year.
lululemon athletica announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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lululemon athletica Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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