Kentucky Retirement Systems Reduces Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Kentucky Retirement Systems lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,012 shares of the apparel retailer’s stock after selling 622 shares during the quarter. Kentucky Retirement Systems’ holdings in Lululemon Athletica were worth $2,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Value Star Asset Management Hong Kong Ltd increased its holdings in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after acquiring an additional 4,630,466 shares during the period. International Assets Investment Management LLC raised its position in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares in the last quarter. River Road Asset Management LLC bought a new stake in Lululemon Athletica during the third quarter valued at $79,503,000. Marshall Wace LLP grew its position in Lululemon Athletica by 359.4% during the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after buying an additional 283,344 shares in the last quarter. Finally, Swedbank AB increased its stake in Lululemon Athletica by 151.0% in the 3rd quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock worth $99,744,000 after acquiring an additional 221,112 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Sanford C. Bernstein cut their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a report on Friday, August 30th. Stifel Nicolaus decreased their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Bank of America dropped their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday, August 30th. UBS Group reduced their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Finally, Guggenheim dropped their price target on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Trading Down 3.1 %

NASDAQ:LULU opened at $320.01 on Monday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a market cap of $39.29 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 2.33 and a beta of 1.24. The company has a 50-day moving average price of $286.35 and a 200-day moving average price of $289.45.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. Equities analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

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.