Grandeur Peak Global Advisors LLC Acquires 5,975 Shares of Lululemon Athletica inc. (LULU)
Grandeur Peak Global Advisors LLC increased its holdings in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 109,750 shares of the apparel retailer’s stock after purchasing an additional 5,975 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Lululemon Athletica were worth $8,625,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LULU. Harel Insurance Investments & Financial Services Ltd. increased its stake in Lululemon Athletica by 702.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock worth $120,000 after buying an additional 1,335 shares during the period. Zions Bancorporation increased its stake in Lululemon Athletica by 183.2% during the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after buying an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in Lululemon Athletica during the 3rd quarter worth approximately $156,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $171,000. Finally, American International Group Inc. purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $180,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
LULU has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. MKM Partners increased their price objective on shares of Lululemon Athletica from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Canaccord Genuity raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating and increased their price objective for the company from $43.00 to $70.00 in a research report on Thursday, December 7th. Finally, KeyCorp reissued a “hold” rating on shares of Lululemon Athletica in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.03.
Lululemon Athletica announced that its Board of Directors has authorized a share buyback program on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $77.47, for a total transaction of $55,943,720.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION WARNING: “Grandeur Peak Global Advisors LLC Acquires 5,975 Shares of Lululemon Athletica inc. (LULU)” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2018/03/22/grandeur-peak-global-advisors-llc-acquires-5975-shares-of-lululemon-athletica-inc-lulu.html.
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.
Want to see what other hedge funds are holding LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lululemon Athletica inc. (NASDAQ:LULU).
Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.