California Public Employees Retirement System Reduces Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

California Public Employees Retirement System reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,763 shares of the apparel retailer’s stock after selling 9,349 shares during the period. California Public Employees Retirement System’s holdings in Lululemon Athletica were worth $92,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & Co. LLC increased its stake in Lululemon Athletica by 12.5% in the 2nd quarter. Bartlett & Co. LLC now owns 225 shares of the apparel retailer’s stock valued at $82,000 after purchasing an additional 25 shares in the last quarter. Blueshift Asset Management LLC increased its stake in Lululemon Athletica by 1.3% in the 2nd quarter. Blueshift Asset Management LLC now owns 2,826 shares of the apparel retailer’s stock valued at $1,031,000 after purchasing an additional 36 shares in the last quarter. WD Rutherford LLC increased its stake in Lululemon Athletica by 0.7% in the 2nd quarter. WD Rutherford LLC now owns 6,025 shares of the apparel retailer’s stock valued at $2,199,000 after purchasing an additional 40 shares in the last quarter. Cresset Asset Management LLC increased its stake in Lululemon Athletica by 5.5% in the 1st quarter. Cresset Asset Management LLC now owns 805 shares of the apparel retailer’s stock valued at $247,000 after purchasing an additional 42 shares in the last quarter. Finally, Outfitter Financial LLC increased its stake in Lululemon Athletica by 1.1% in the 2nd quarter. Outfitter Financial LLC now owns 4,225 shares of the apparel retailer’s stock valued at $1,542,000 after purchasing an additional 45 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Lululemon Athletica stock opened at $400.71 on Thursday. Lululemon Athletica Inc. has a twelve month low of $269.28 and a twelve month high of $437.32. The stock has a market capitalization of $52.02 billion, a P/E ratio of 63.40, a PEG ratio of 3.06 and a beta of 1.36. The business’s fifty day moving average price is $406.82 and its 200 day moving average price is $365.46.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Tuesday, September 7th. The apparel retailer reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.46. Lululemon Athletica had a return on equity of 34.16% and a net margin of 14.96%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 60.7% compared to the same quarter last year. As a group, analysts predict that Lululemon Athletica Inc. will post 7.58 EPS for the current fiscal year.

In other Lululemon Athletica news, insider Michelle Sun Choe sold 21,223 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $424.75, for a total value of $9,014,469.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Henry sold 250 shares of the firm’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $420.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 4,054 shares in the company, valued at $1,702,680. The disclosure for this sale can be found here. Insiders sold 31,723 shares of company stock worth $13,501,272 in the last quarter. 0.39% of the stock is owned by insiders.

Several research firms recently weighed in on LULU. UBS Group raised their price objective on Lululemon Athletica from $375.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, September 10th. Deutsche Bank Aktiengesellschaft raised their price target on Lululemon Athletica from $436.00 to $474.00 and gave the stock a “buy” rating in a research report on Thursday, September 9th. B. Riley raised their price target on Lululemon Athletica from $370.00 to $466.00 and gave the stock a “buy” rating in a research report on Tuesday, August 17th. Citigroup raised their price target on Lululemon Athletica from $350.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, September 10th. Finally, Bank of America raised their price target on Lululemon Athletica from $410.00 to $480.00 and gave the stock a “buy” rating in a research report on Thursday, September 9th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Buy” and an average target price of $448.32.

Lululemon Athletica Company Profile

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

See Also: What is a price target?

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).

Institutional Ownership by Quarter for Lululemon Athletica (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.