Investors sold shares of Lululemon Athletica inc. (NASDAQ:LULU) on strength during trading on Wednesday. $15.92 million flowed into the stock on the tick-up and $41.53 million flowed out of the stock on the tick-down, for a money net flow of $25.61 million out of the stock. Of all companies tracked, Lululemon Athletica had the 0th highest net out-flow for the day. Lululemon Athletica traded up $0.58 for the day and closed at $81.16
LULU has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $71.00 target price (up previously from $69.00) on shares of Lululemon Athletica in a research report on Friday, December 1st. SunTrust Banks upped their price objective on shares of Lululemon Athletica from $69.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Citigroup upped their price objective on shares of Lululemon Athletica to $78.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Cowen reaffirmed a “buy” rating and issued a $78.00 price objective (up from $68.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and issued a $85.00 price objective (up from $71.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.95.
The company has a market capitalization of $10,960.00, a PE ratio of 40.35, a P/E/G ratio of 2.08 and a beta of 0.26.
Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $77.47, for a total value of $55,943,720.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LULU. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Lululemon Athletica by 702.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after buying an additional 1,335 shares during the last quarter. Zions Bancorporation raised its position in shares of Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after buying an additional 1,356 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $156,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $171,000. Finally, American International Group Inc. purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
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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.
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