Point72 Asset Management L.P. Purchases New Stake in Lululemon Athletica inc. (LULU)
Point72 Asset Management L.P. purchased a new position in shares of Lululemon Athletica inc. (NASDAQ:LULU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 147,827 shares of the apparel retailer’s stock, valued at approximately $18,456,000. Point72 Asset Management L.P. owned approximately 0.11% of Lululemon Athletica at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Private Capital Group LLC grew its position in Lululemon Athletica by 103.3% during the first quarter. Private Capital Group LLC now owns 1,222 shares of the apparel retailer’s stock worth $109,000 after buying an additional 621 shares in the last quarter. Northwest Wealth Management LLC acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at $125,000. Synovus Financial Corp acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at $127,000. Smithfield Trust Co. boosted its holdings in shares of Lululemon Athletica by 247.8% in the 2nd quarter. Smithfield Trust Co. now owns 1,287 shares of the apparel retailer’s stock valued at $160,000 after purchasing an additional 917 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Lululemon Athletica by 42.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,110 shares of the apparel retailer’s stock valued at $188,000 after purchasing an additional 628 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on LULU shares. ValuEngine downgraded Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Stifel Nicolaus raised their target price on Lululemon Athletica from $111.00 to $113.00 and gave the company a “hold” rating in a report on Friday, June 8th. Robert W. Baird raised their target price on Lululemon Athletica from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, June 8th. Bank of America raised their target price on Lululemon Athletica from $121.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 6th. Finally, Zacks Investment Research downgraded Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Fifteen analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $143.19.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 30th. The apparel retailer reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.22. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. The company had revenue of $723.50 million during the quarter, compared to analysts’ expectations of $669.14 million. During the same period in the prior year, the company earned $0.39 EPS. sell-side analysts predict that Lululemon Athletica inc. will post 3.56 earnings per share for the current fiscal year.
About Lululemon Athletica
lululemon athletica inc., an athletic apparel company, 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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