Cowen Inc. purchased a new position in shares of Lululemon Athletica inc. (NASDAQ:LULU) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 126,400 shares of the apparel retailer’s stock, valued at approximately $7,869,000. Cowen Inc. owned about 0.09% of Lululemon Athletica as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Republic Investment Management Inc. boosted its holdings in Lululemon Athletica by 26.2% in the 3rd quarter. First Republic Investment Management Inc. now owns 5,035 shares of the apparel retailer’s stock valued at $313,000 after purchasing an additional 1,046 shares during the period. Engineers Gate Manager LP bought a new stake in Lululemon Athletica in the 3rd quarter valued at $863,000. Lodge Hill Capital LLC raised its stake in shares of Lululemon Athletica by 2.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 688,170 shares of the apparel retailer’s stock valued at $42,839,000 after buying an additional 18,170 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $232,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $14,930,000. 79.31% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on LULU. Cowen restated an “outperform” rating and issued a $68.00 price objective (up previously from $67.00) on shares of Lululemon Athletica in a research note on Friday, September 1st. Zacks Investment Research cut shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Instinet restated a “buy” rating and issued a $67.00 price objective (up previously from $65.00) on shares of Lululemon Athletica in a research report on Friday, September 1st. Robert W. Baird restated an “in-line” rating and issued a $82.00 price objective (up previously from $72.00) on shares of Lululemon Athletica in a research report on Thursday, December 7th. Finally, Buckingham Research reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Lululemon Athletica in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $70.51.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The business had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. analysts forecast that Lululemon Athletica inc. will post 2.48 EPS for the current fiscal year.
Lululemon Athletica announced that its board has authorized a share repurchase plan on Wednesday, December 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
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About Lululemon Athletica
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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