State of New Jersey Common Pension Fund D Trims Position in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in lululemon athletica by 7.3%, ending with 37,585 shares valued at approximately $10.6 million.
• Recent analyst reports have lowered price targets for lululemon athletica, with a consensus target price now at $327.15 and a rating of "Moderate Buy."
• CEO Calvin McDonald sold 27,049 shares of lululemon athletica, decreasing his ownership by 19.66%, following the recent quarterly earnings report.

State of New Jersey Common Pension Fund D lessened its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,585 shares of the apparel retailer's stock after selling 2,963 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in lululemon athletica were worth $10,639,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Twin Capital Management Inc. lifted its stake in shares of lululemon athletica by 58.3% during the 1st quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock worth $1,041,000 after purchasing an additional 1,354 shares during the period. Narwhal Capital Management raised its position in shares of lululemon athletica by 262.7% in the 1st quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after buying an additional 13,600 shares during the period. Sawgrass Asset Management LLC purchased a new position in shares of lululemon athletica in the 1st quarter worth $9,209,000. WealthPlan Investment Management LLC raised its position in shares of lululemon athletica by 26.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 7,647 shares of the apparel retailer's stock worth $2,165,000 after buying an additional 1,622 shares during the period. Finally, Flossbach Von Storch SE raised its position in shares of lululemon athletica by 10.3% in the 1st quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock worth $396,818,000 after buying an additional 130,565 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analysts Set New Price Targets

LULU has been the topic of several research reports. Robert W. Baird cut their target price on lululemon athletica from $340.00 to $260.00 and set an "outperform" rating on the stock in a research report on Monday, August 11th. The Goldman Sachs Group lowered their price target on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a report on Friday, June 6th. Citigroup lowered their price target on lululemon athletica from $325.00 to $270.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, CICC Research restated a "market perform" rating and set a $280.49 target price on shares of lululemon athletica in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $327.15.

lululemon athletica Stock Up 1.7%

Shares of NASDAQ LULU opened at $198.46 on Friday. The firm's 50-day moving average price is $224.16 and its two-hundred day moving average price is $285.82. lululemon athletica inc. has a 52-week low of $185.95 and a 52-week high of $423.32. The stock has a market capitalization of $23.78 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.69 and a beta of 1.16.

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 for the quarter, meeting analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. As a group, equities research analysts expect that lululemon athletica inc. will post 14.36 earnings per share for the current year.

Insider Buying and Selling at lululemon athletica

In other 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 transaction 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. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.

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