Eaton Vance Management trimmed its position in Lululemon Athletica inc. (NASDAQ:LULU) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,566,743 shares of the apparel retailer’s stock after selling 92,658 shares during the period. Eaton Vance Management’s holdings in Lululemon Athletica were worth $123,130,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Lululemon Athletica by 702.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after purchasing an additional 1,335 shares in the last quarter. Zions Bancorporation raised its stake in shares of Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Lululemon Athletica in the third quarter valued at $156,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Lululemon Athletica during the fourth quarter worth $171,000. Finally, American International Group Inc. acquired a new position in Lululemon Athletica during the fourth quarter worth $180,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
Lululemon Athletica inc. (LULU) opened at $81.16 on Thursday. The stock has a market capitalization of $10,908.84, a PE ratio of 35.50, a P/E/G ratio of 2.07 and a beta of 0.26. Lululemon Athletica inc. has a 1-year low of $47.26 and a 1-year high of $83.31.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.04. The business had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $610.56 million. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. equities analysts expect that Lululemon Athletica inc. will post 2.53 earnings per share for the current fiscal year.
Lululemon Athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $77.47, for a total value of $55,943,720.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.
Several research firms have issued reports on LULU. SunTrust Banks increased their price objective on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research lowered Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. MKM Partners increased their price objective on Lululemon Athletica from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Robert W. Baird reiterated an “in-line” rating and set a $82.00 price objective (up from $72.00) on shares of Lululemon Athletica in a research note on Thursday, December 7th. Finally, Needham & Company LLC increased their price objective on Lululemon Athletica from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.95.
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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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