Ontario Teachers Pension Plan Board Buys 3,760 Shares of lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in lululemon athletica by 82.3%, acquiring an additional 3,760 shares during the first quarter, bringing its total holdings to 8,330 shares valued at approximately $2.36 million.
• lululemon's latest earnings report indicated earnings per share of $2.60, meeting analysts' expectations, and a revenue of $2.37 billion, which slightly exceeded projections.
• Multiple analysts have recently adjusted their price targets for lululemon, with Goldman Sachs lowering their target from $363 to $302 while maintaining a "neutral" rating.

Ontario Teachers Pension Plan Board increased its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 82.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,330 shares of the apparel retailer's stock after purchasing an additional 3,760 shares during the period. Ontario Teachers Pension Plan Board's holdings in lululemon athletica were worth $2,358,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Dnca Finance lifted its position in shares of lululemon athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock worth $76,000 after purchasing an additional 26 shares during the last quarter. Lido Advisors LLC increased its stake in lululemon athletica by 1.9% during the fourth quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock valued at $668,000 after acquiring an additional 32 shares during the period. Belpointe Asset Management LLC increased its stake in 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 acquiring an additional 36 shares during the period. Colonial Trust Co SC increased its stake in lululemon athletica by 2.1% during the fourth quarter. Colonial Trust Co SC now owns 1,737 shares of the apparel retailer's stock valued at $664,000 after acquiring an additional 36 shares during the period. Finally, Carolinas Wealth Consulting LLC increased its stake in lululemon athletica by 30.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the apparel retailer's stock valued at $63,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 85.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley restated an "equal weight" rating and set a $280.00 price target (down from $346.00) on shares of lululemon athletica in a research note on Monday, June 9th. Stifel Nicolaus lowered their price target on lululemon athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Truist Financial lowered their price objective on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. JPMorgan Chase & Co. lowered lululemon athletica from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $303.00 to $224.00 in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group lowered their price objective on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating on the stock in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $327.15.

lululemon athletica Stock Performance

LULU stock traded up $5.53 during midday trading on Tuesday, hitting $191.97. 1,632,970 shares of the company's stock were exchanged, compared to its average volume of 2,602,514. The stock's fifty day moving average price is $233.74 and its 200-day moving average price is $290.87. The company has a market cap of $23.01 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. lululemon athletica inc. has a one year low of $185.95 and a one year high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its 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 return on equity of 43.48% and a net margin of 16.82%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm earned $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Transactions at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $235.69, for a total value of $6,375,178.81. Following the sale, the chief executive officer owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

lululemon athletica 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.