BI Asset Management Fondsmaeglerselskab A S Increases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 115.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,794 shares of the apparel retailer’s stock after buying an additional 10,057 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Lululemon Athletica were worth $7,342,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after purchasing an additional 2,369,119 shares during the last quarter. International Assets Investment Management LLC grew its position in Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock valued at $351,868,000 after buying an additional 686,855 shares during the last quarter. Norges Bank acquired a new position in Lululemon Athletica in the 4th quarter valued at $236,378,000. Northern Trust Corp raised its position in Lululemon Athletica by 32.7% during the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Lululemon Athletica by 61.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock worth $334,072,000 after acquiring an additional 249,232 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 1.6 %

Shares of LULU stock traded down $4.73 during mid-day trading on Wednesday, hitting $285.14. 637,056 shares of the company’s stock were exchanged, compared to its average volume of 2,039,494. The stock has a market cap of $35.64 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.46 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $283.49 and a fifty-two week high of $516.39. The stock has a 50-day simple moving average of $317.99 and a two-hundred day simple moving average of $396.77.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a stock repurchase 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 purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI cut their price target on shares of Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. The Goldman Sachs Group cut their target price on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company decreased their price target on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. HSBC raised Lululemon Athletica from a “hold” rating to a “buy” rating and raised their target price for the company from $405.00 to $425.00 in a report on Thursday, June 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $431.94.

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.