Sumitomo Mitsui DS Asset Management Company Ltd Has $7.63 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,542 shares of the apparel retailer’s stock after purchasing an additional 65 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lululemon Athletica were worth $7,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Lululemon Athletica by 1.6% in the first quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock valued at $3,847,103,000 after buying an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd raised its position in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Capital World Investors lifted its stake in shares of Lululemon Athletica by 0.9% in the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after purchasing an additional 14,112 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Lululemon Athletica by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock worth $445,268,000 after purchasing an additional 18,924 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after purchasing an additional 257,944 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $259.47 on Friday. The stock has a 50 day moving average price of $272.61 and a 200 day moving average price of $341.27. The stock has a market capitalization of $32.43 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.92 by $0.23. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its board has authorized a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LULU. Raymond James reduced their target price on Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $445.00 target price on shares of Lululemon Athletica in a report on Thursday, June 6th. JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, KeyCorp lowered their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $355.84.

Lululemon Athletica Company Profile

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.