China Universal Asset Management Co. Ltd. Purchases 1,347 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

China Universal Asset Management Co. Ltd. raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 217.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,966 shares of the apparel retailer’s stock after purchasing an additional 1,347 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Lululemon Athletica were worth $587,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LULU. Vanguard Group Inc. lifted its stake in shares of Lululemon Athletica by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after acquiring an additional 154,985 shares during the last quarter. Capital World Investors boosted its stake in shares of Lululemon Athletica by 0.9% during the fourth quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after purchasing an additional 14,112 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Lululemon Athletica by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock worth $445,268,000 after purchasing an additional 18,924 shares during the last quarter. Northern Trust Corp lifted its holdings 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 valued at $534,815,000 after buying an additional 257,944 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Lululemon Athletica by 3.8% in the 4th quarter. Brown Advisory Inc. now owns 846,810 shares of the apparel retailer’s stock valued at $432,965,000 after buying an additional 31,232 shares during the period. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 0.4 %

LULU traded down $1.05 on Tuesday, hitting $258.07. 446,752 shares of the company’s stock were exchanged, compared to its average volume of 2,082,528. The firm has a 50-day moving average price of $280.06 and a 200-day moving average price of $350.71. The stock has a market cap of $32.26 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

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

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LULU has been the subject of several research analyst reports. BMO Capital Markets decreased their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Sanford C. Bernstein upped their target price on Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a report on Friday, June 7th. Wells Fargo & Company dropped their price target on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. TD Cowen decreased their price objective on Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Wedbush upped their price objective on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $402.00.

Lululemon Athletica Company 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.