California Public Employees Retirement System Cuts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

California Public Employees Retirement System lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 200,592 shares of the apparel retailer’s stock after selling 6,781 shares during the period. California Public Employees Retirement System’s holdings in Lululemon Athletica were worth $102,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LULU. Valley National Advisers Inc. lifted its stake in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Milestone Investment Advisors LLC bought a new position in Lululemon Athletica during the 3rd quarter valued at about $27,000. Bogart Wealth LLC lifted its stake in Lululemon Athletica by 270.0% during the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Morton Brown Family Wealth LLC bought a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $31,000. Finally, Farmers & Merchants Investments Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $40,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU stock opened at $364.68 on Wednesday. The firm has a fifty day moving average price of $416.17 and a 200 day moving average price of $439.37. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The firm has a market cap of $45.95 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. Lululemon Athletica’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $4.40 earnings per share. On average, equities analysts predict that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LULU. BMO Capital Markets increased their price objective on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Wedbush lowered their price objective on shares of Lululemon Athletica from $548.00 to $492.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $539.00 target price (down from $596.00) on shares of Lululemon Athletica in a report on Friday, March 22nd. Needham & Company LLC reduced their target price on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Jefferies Financial Group reduced their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $483.61.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the transaction, the director now 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. Corporate insiders own 0.54% of the company’s stock.

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.