California State Teachers Retirement System lessened its position in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 157,322 shares of the apparel retailer’s stock after selling 4,439 shares during the period. California State Teachers Retirement System’s holdings in Lululemon Athletica were worth $12,364,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Lululemon Athletica by 132.6% in the third quarter. Bank of New York Mellon Corp now owns 1,014,384 shares of the apparel retailer’s stock valued at $63,146,000 after purchasing an additional 578,248 shares during the period. Alliancebernstein L.P. grew its position in shares of Lululemon Athletica by 311.5% in the fourth quarter. Alliancebernstein L.P. now owns 691,777 shares of the apparel retailer’s stock valued at $54,367,000 after purchasing an additional 523,653 shares during the period. Elephas Investment Management Ltd acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $29,062,000. Arrowstreet Capital Limited Partnership grew its position in shares of Lululemon Athletica by 481.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 395,741 shares of the apparel retailer’s stock valued at $31,101,000 after purchasing an additional 327,624 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Lululemon Athletica by 113.9% in the fourth quarter. Two Sigma Advisers LP now owns 545,333 shares of the apparel retailer’s stock valued at $42,858,000 after purchasing an additional 290,411 shares during the period. Institutional investors own 80.17% of the company’s stock.
LULU has been the topic of several research analyst reports. Canaccord Genuity set a $43.00 target price on shares of Lululemon Athletica and gave the company a “sell” rating in a research report on Tuesday, December 5th. BMO Capital Markets set a $75.00 price target on shares of Lululemon Athletica and gave the stock a “hold” rating in a research report on Tuesday, December 19th. BidaskClub upgraded shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Wells Fargo set a $79.00 price target on shares of Lululemon Athletica and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Oppenheimer restated an “outperform” rating and set a $88.00 price target on shares of Lululemon Athletica in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $75.03.
Shares of LULU stock opened at $79.51 on Friday. The stock has a market cap of $10,925.08, a P/E ratio of 39.56, a PEG ratio of 2.07 and a beta of 0.22. Lululemon Athletica inc. has a 52 week low of $47.26 and a 52 week high of $83.98.
Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Lululemon Athletica Company Profile
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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