Nuveen LLC Makes New $123.89 Million Investment in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Nuveen LLC acquired 437,695 shares of lululemon athletica, valued at approximately $123.9 million, increasing its stake in the company to 0.36%.
• During recent earnings, lululemon reported an EPS of $2.60, meeting analyst estimates, with revenue of $2.37 billion, a 7.3% increase year-over-year.
• Recent analyst ratings show a consensus rating of "Moderate Buy" for lululemon athletica, with price targets ranging significantly from $200 to $327.15.

Nuveen LLC purchased a new position in lululemon athletica inc. (NASDAQ:LULU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 437,695 shares of the apparel retailer's stock, valued at approximately $123,894,000. Nuveen LLC owned approximately 0.36% of lululemon athletica as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of LULU. Brighton Jones LLC bought a new stake in lululemon athletica in the fourth quarter valued at about $429,000. Fourth Dimension Wealth LLC bought a new position in shares of lululemon athletica during the fourth quarter valued at approximately $61,000. Townsquare Capital LLC grew its holdings in shares of lululemon athletica by 80.8% during the fourth quarter. Townsquare Capital LLC now owns 3,986 shares of the apparel retailer's stock valued at $1,524,000 after purchasing an additional 1,781 shares during the last quarter. Advisors Capital Management LLC bought a new position in shares of lululemon athletica during the fourth quarter valued at approximately $202,000. Finally, Belpointe Asset Management LLC grew its holdings in shares of lululemon athletica by 0.6% during the fourth quarter. Belpointe Asset Management LLC now owns 6,138 shares of the apparel retailer's stock valued at $2,347,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

lululemon athletica Trading Down 2.6%

lululemon athletica stock traded down $5.30 during mid-day trading on Thursday, hitting $195.19. 4,034,136 shares of the company's stock were exchanged, compared to its average volume of 3,145,994. The stock has a market cap of $23.39 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.71 and a beta of 1.16. lululemon athletica inc. has a 1-year low of $185.95 and a 1-year high of $423.32. The stock has a 50 day moving average of $225.49 and a two-hundred day moving average of $288.14.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

Insider Transactions at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the sale, the chief executive officer owned 110,564 shares in the company, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LULU. Jefferies Financial Group decreased their price objective on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a report on Friday, June 6th. BTIG Research cut their target price on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Morgan Stanley restated an "equal weight" rating and issued a $280.00 target price (down from $346.00) on shares of lululemon athletica in a research report on Monday, June 9th. JPMorgan Chase & Co. downgraded lululemon athletica from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $303.00 to $224.00 in a research report on Tuesday, July 22nd. Finally, BMO Capital Markets cut their target price on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $327.15.

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.