Assenagon Asset Management S.A. Grows Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Assenagon Asset Management S.A. raised its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 352.2% during the second quarter, HoldingsChannel reports. The fund owned 201,323 shares of the apparel retailer’s stock after purchasing an additional 156,801 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lululemon Athletica were worth $60,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter valued at about $26,000. Benjamin Edwards Inc. lifted its holdings in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares in the last quarter. Riverview Trust Co purchased a new position in Lululemon Athletica during the first quarter valued at approximately $29,000. Finally, True Wealth Design LLC increased its holdings in Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LULU. Bank of America boosted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. The Goldman Sachs Group lowered Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $357.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 13th. Robert W. Baird decreased their price objective on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, UBS Group dropped their target price on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.26.

Lululemon Athletica Stock Up 0.6 %

Shares of NASDAQ:LULU traded up $1.55 during trading on Friday, hitting $258.10. The stock had a trading volume of 2,088,792 shares, compared to its average volume of 2,093,348. The company has a market capitalization of $32.26 billion, a PE ratio of 20.70, a PEG ratio of 1.25 and a beta of 1.26. The firm’s fifty day moving average is $281.25 and its 200 day moving average is $353.74. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company earned $2.28 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share buyback program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

About Lululemon Athletica

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.