State of Michigan Retirement System Buys 400 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

State of Michigan Retirement System lifted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,808 shares of the apparel retailer’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Lululemon Athletica were worth $14,076,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Schechter Investment Advisors LLC raised its holdings in Lululemon Athletica by 6.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,683 shares of the apparel retailer’s stock valued at $644,000 after buying an additional 97 shares during the last quarter. Meridian Wealth Management LLC increased its position in Lululemon Athletica by 1.4% in the 4th quarter. Meridian Wealth Management LLC now owns 2,956 shares of the apparel retailer’s stock valued at $1,130,000 after acquiring an additional 41 shares during the period. Auxano Advisors LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at $270,000. Fidelis Capital Partners LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $206,000. Finally, LGT Fund Management Co Ltd. grew its stake in shares of Lululemon Athletica by 3.3% in the fourth quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer’s stock worth $356,000 after purchasing an additional 30 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LULU shares. Citigroup raised their target price on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. UBS Group increased their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target on the stock in a research report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average target price of $399.14.

Lululemon Athletica Stock Down 0.7 %

Lululemon Athletica stock opened at $345.29 on Wednesday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $480.94. The company’s 50 day moving average price is $385.29 and its two-hundred day moving average price is $331.52. The stock has a market cap of $42.05 billion, a P/E ratio of 24.93, a P/E/G ratio of 2.22 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.53 earnings per share. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.