AustralianSuper Pty Ltd Sells 2,508 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

AustralianSuper Pty Ltd cut its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 34.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,681 shares of the apparel retailer’s stock after selling 2,508 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Lululemon Athletica were worth $1,398,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Lululemon Athletica by 116.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,724 shares of the apparel retailer’s stock valued at $7,385,000 after purchasing an additional 13,312 shares during the last quarter. Crew Capital Management Ltd. lifted its position in shares of Lululemon Athletica by 15.5% in the second quarter. Crew Capital Management Ltd. now owns 1,949 shares of the apparel retailer’s stock worth $582,000 after buying an additional 262 shares during the last quarter. RiverPark Advisors LLC lifted its position in shares of Lululemon Athletica by 3.1% in the second quarter. RiverPark Advisors LLC now owns 2,457 shares of the apparel retailer’s stock worth $734,000 after buying an additional 74 shares during the last quarter. Riverpark Capital Management LLC boosted its stake in shares of Lululemon Athletica by 17.8% during the 2nd quarter. Riverpark Capital Management LLC now owns 2,204 shares of the apparel retailer’s stock worth $658,000 after acquiring an additional 333 shares in the last quarter. Finally, Railway Pension Investments Ltd increased its holdings in shares of Lululemon Athletica by 39.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 105,700 shares of the apparel retailer’s stock valued at $31,573,000 after acquiring an additional 29,900 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU traded down $11.14 during midday trading on Wednesday, reaching $260.04. 920,869 shares of the company traded hands, compared to its average volume of 2,076,661. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock’s 50-day simple moving average is $275.58 and its 200-day simple moving average is $343.83. The firm has a market cap of $32.51 billion, a PE ratio of 21.22, a PEG ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $2.28 EPS. On average, equities research analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LULU shares. TD Cowen decreased their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird decreased their price objective on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research report on Monday. Wedbush lowered their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Telsey Advisory Group cut their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $375.00.

Lululemon Athletica Company Profile

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.