Driehaus Capital Management LLC purchased a new position in shares of Lululemon Athletica inc. (NASDAQ:LULU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,873 shares of the apparel retailer’s stock, valued at approximately $776,000.
Several other hedge funds have also modified their holdings of LULU. ETRADE Capital Management LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at $252,000. OxFORD Asset Management LLP purchased a new position in Lululemon Athletica during the 3rd quarter worth $14,930,000. APG Asset Management N.V. grew its stake in Lululemon Athletica by 11.4% during the 4th quarter. APG Asset Management N.V. now owns 197,388 shares of the apparel retailer’s stock worth $12,919,000 after buying an additional 20,200 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Lululemon Athletica during the 3rd quarter worth $685,000. Finally, Jennison Associates LLC purchased a new position in Lululemon Athletica during the 3rd quarter worth $37,996,000. 80.18% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on LULU. Zacks Investment Research downgraded Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. BidaskClub upgraded Lululemon Athletica from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Credit Suisse Group began coverage on Lululemon Athletica in a research note on Monday. They set an “outperform” rating and a $96.00 target price on the stock. Deutsche Bank boosted their target price on Lululemon Athletica from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, B. Riley restated a “hold” rating and set a $70.00 target price on shares of Lululemon Athletica in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $75.03.
In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the company’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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.
Lululemon Athletica inc. (NASDAQ:LULU) opened at $80.75 on Thursday. The stock has a market capitalization of $10,803.24, a PE ratio of 40.17, a PEG ratio of 2.05 and a beta of 0.22. Lululemon Athletica inc. has a fifty-two week low of $47.26 and a fifty-two week high of $83.98.
Lululemon Athletica declared that its board has authorized a share repurchase program on Wednesday, December 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management 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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