Louisiana State Employees Retirement System Sells 100 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Louisiana State Employees Retirement System reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,100 shares of the apparel retailer’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Lululemon Athletica were worth $4,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LULU. Tidemark LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Benjamin Edwards Inc. lifted its position in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares during the last quarter. Riverview Trust Co purchased a new stake in Lululemon Athletica during the first quarter valued at approximately $29,000. Finally, True Wealth Design LLC lifted its position in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Up 1.8 %

Shares of NASDAQ LULU traded up $4.72 during mid-day trading on Friday, reaching $268.17. 631,140 shares of the company were exchanged, compared to its average volume of 2,075,875. The stock has a market capitalization of $33.52 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.25 and a beta of 1.26. The company’s 50-day simple moving average is $277.15 and its 200-day simple moving average is $348.11. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve 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 for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the business earned $2.28 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a stock buyback plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush raised their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday. Truist Financial cut their price objective on shares of Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. TD Securities dropped their price target on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $390.35.

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.