Norges Bank Buys Shares of 1,326,245 Lululemon Athletica inc. (LULU)

Norges Bank bought a new position in Lululemon Athletica inc. (NASDAQ:LULU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,326,245 shares of the apparel retailer’s stock, valued at approximately $161,284,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Financial Advocates Investment Management boosted its stake in Lululemon Athletica by 3,971.9% in the 4th quarter. Financial Advocates Investment Management now owns 18,242 shares of the apparel retailer’s stock worth $1,201,000 after purchasing an additional 17,794 shares during the period. Aspire Private Capital LLC bought a new position in Lululemon Athletica in the 4th quarter worth about $71,000. Bell & Brown Wealth Advisors LLC boosted its stake in Lululemon Athletica by 1.3% in the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 13,550 shares of the apparel retailer’s stock worth $1,648,000 after purchasing an additional 175 shares during the period. Lake Point Wealth Management bought a new position in Lululemon Athletica in the 4th quarter worth about $207,000. Finally, Nordea Investment Management AB boosted its stake in Lululemon Athletica by 200.7% in the 4th quarter. Nordea Investment Management AB now owns 12,758 shares of the apparel retailer’s stock worth $1,552,000 after purchasing an additional 8,515 shares during the period. Institutional investors and hedge funds own 79.49% of the company’s stock.

Shares of NASDAQ LULU opened at $165.52 on Tuesday. The stock has a market cap of $21.70 billion, a P/E ratio of 43.10, a PEG ratio of 1.97 and a beta of 0.52. Lululemon Athletica inc. has a 1-year low of $86.65 and a 1-year high of $171.45.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. As a group, research analysts anticipate that Lululemon Athletica inc. will post 4.62 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback program on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts have recently issued reports on the company. Wells Fargo & Co set a $190.00 price target on Lululemon Athletica and gave the company an “outperform” rating in a research report on Thursday, March 28th. Robert W. Baird lifted their price target on Lululemon Athletica from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. MKM Partners lifted their price target on Lululemon Athletica from $179.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Cowen lifted their price target on Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus lifted their price target on Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $167.91.

In other Lululemon Athletica news, Director Dennis J. Wilson sold 288,856 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $155.79, for a total value of $45,000,876.24. Following the transaction, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $600,103.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dennis J. Wilson sold 847,000 shares of Lululemon Athletica stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $136.53, for a total value of $115,640,910.00. Following the completion of the transaction, the insider now directly owns 3,852 shares in the company, valued at $525,913.56. The disclosure for this sale can be found here. Insiders sold a total of 3,359,584 shares of company stock worth $482,126,030 over the last ninety days. Insiders own 0.32% of the company’s stock.

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Lululemon Athletica Profile

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

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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