Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by American International Group Inc.

American International Group Inc. grew its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 378.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,616 shares of the apparel retailer’s stock after purchasing an additional 31,343 shares during the quarter. American International Group Inc.’s holdings in Lululemon Athletica were worth $20,255,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Rafferty Asset Management LLC grew its stake in Lululemon Athletica by 16.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,622 shares of the apparel retailer’s stock worth $8,338,000 after acquiring an additional 2,978 shares during the period. QRG Capital Management Inc. purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $1,272,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $5,008,000. Envestnet Asset Management Inc. boosted its holdings in shares of Lululemon Athletica by 30.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after purchasing an additional 44,141 shares during the last quarter. Finally, Balentine LLC boosted its holdings in shares of Lululemon Athletica by 7.9% in the 3rd quarter. Balentine LLC now owns 911 shares of the apparel retailer’s stock valued at $351,000 after purchasing an additional 67 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Down 0.5 %

Shares of LULU traded down $1.48 during midday trading on Friday, hitting $306.01. The company had a trading volume of 1,472,697 shares, compared to its average volume of 3,582,924. Lululemon Athletica Inc. has a 52 week low of $293.03 and a 52 week high of $516.39. The company’s 50 day moving average price is $334.65 and its 200 day moving average price is $418.73. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.40 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. 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 firm earned $2.28 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LULU shares. Bank of America lifted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, June 6th. TD Cowen lifted their target price on shares of Lululemon Athletica from $437.00 to $447.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Truist Financial reduced their target price on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Barclays reduced their target price on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Finally, Robert W. Baird reduced their target price on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $433.06.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

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.