Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,592 shares of the apparel retailer's stock after selling 6,781 shares during the period. California Public Employees Retirement System owned about 0.16% of Lululemon Athletica worth $102,561,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. boosted its position in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $31,000. Milestone Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica in the 3rd quarter valued at about $27,000. Bogart Wealth LLC raised its stake in shares of Lululemon Athletica by 270.0% in the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 54 shares during the period. Finally, Farmers & Merchants Investments Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter valued at about $40,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on Lululemon Athletica from $300.00 to $240.00 and set an "underperform" rating for the company in a report on Thursday, April 4th. Truist Financial reduced their price target on Lululemon Athletica from $561.00 to $498.00 and set a "buy" rating on the stock in a research report on Monday, March 25th. Wedbush cut their target price on Lululemon Athletica from $548.00 to $492.00 and set an "outperform" rating for the company in a research note on Friday, March 22nd. Barclays cut their target price on Lululemon Athletica from $610.00 to $546.00 and set an "overweight" rating for the company in a research note on Friday, March 22nd. Finally, KeyCorp dropped their price target on Lululemon Athletica from $570.00 to $515.00 and set an "overweight" rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $483.61.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of Lululemon Athletica stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares of the company's stock, valued at $194,645. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company's stock.

Lululemon Athletica Price Performance

NASDAQ:LULU traded down $0.09 on Wednesday, reaching $364.59. 1,258,417 shares of the company's stock were exchanged, compared to its average volume of 1,782,773. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.28 and a beta of 1.30. The stock has a fifty day simple moving average of $416.17 and a 200-day simple moving average of $439.37. Lululemon Athletica Inc. has a 52 week low of $326.93 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company's revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $4.40 earnings per share. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

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.