Gabelli Funds LLC Has $2.10 Million Holdings in Lululemon Athletica inc. (LULU)
Gabelli Funds LLC reduced its position in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 31.9% during the 1st quarter, HoldingsChannel reports. The fund owned 12,800 shares of the apparel retailer’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC’s holdings in Lululemon Athletica were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marco Investment Management LLC acquired a new position in shares of Lululemon Athletica in the first quarter valued at $246,000. Strategic Wealth Advisors Group LLC bought a new position in shares of Lululemon Athletica in the first quarter worth about $1,942,000. Executive Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 102.0% in the first quarter. Executive Wealth Management LLC now owns 8,733 shares of the apparel retailer’s stock worth $1,431,000 after acquiring an additional 4,410 shares during the last quarter. Comerica Bank lifted its holdings in shares of Lululemon Athletica by 5.8% in the first quarter. Comerica Bank now owns 10,945 shares of the apparel retailer’s stock worth $1,833,000 after acquiring an additional 597 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. raised its holdings in Lululemon Athletica by 11.5% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 7,154 shares of the apparel retailer’s stock valued at $1,172,000 after buying an additional 737 shares during the last quarter. 80.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Stuart Haselden sold 49,319 shares of Lululemon Athletica stock in a transaction on Friday, March 29th. The shares were sold at an average price of $164.62, for a total value of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis J. Wilson sold 155,800 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the completion of the sale, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $556,344.36. The disclosure for this sale can be found here. In the last three months, insiders sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is currently owned by insiders.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $1.33 EPS. Lululemon Athletica’s revenue was up 25.6% compared to the same quarter last year. Equities analysts forecast that Lululemon Athletica inc. will post 4.65 earnings per share for the current year.
Lululemon Athletica announced that its board has initiated a stock repurchase plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of brokerages recently issued reports on LULU. Credit Suisse Group raised their price objective on shares of Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Cowen raised their price objective on shares of Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 target price for the company in a research report on Monday, April 1st. Wells Fargo & Co increased their target price on shares of Lululemon Athletica from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus increased their target price on shares of Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $174.90.
Lululemon Athletica Profile
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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