American International Group Inc. purchased a new stake in Lululemon Athletica inc. (NASDAQ:LULU) in the 4th quarter, Holdings Channel reports. The firm purchased 2,294 shares of the apparel retailer’s stock, valued at approximately $180,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in LULU. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Lululemon Athletica by 702.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after purchasing an additional 1,335 shares in the last quarter. Zions Bancorporation grew its position in shares of Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Lululemon Athletica in the third quarter valued at $156,000. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at $171,000. Finally, Cetera Advisors LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at $216,000. Institutional investors own 80.18% of the company’s stock.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $77.47, for a total value of $55,943,720.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.
Lululemon Athletica announced that its board has authorized a share repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently weighed in on LULU shares. Citigroup lifted their price target on Lululemon Athletica to $78.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Wells Fargo & Co set a $79.00 price target on Lululemon Athletica and gave the company a “hold” rating in a research report on Thursday, January 11th. SunTrust Banks reiterated a “buy” rating and issued a $95.00 price target on shares of Lululemon Athletica in a research report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of Lululemon Athletica in a research report on Friday, December 8th. Finally, Stifel Nicolaus lifted their price target on Lululemon Athletica from $66.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Lululemon Athletica presently has a consensus rating of “Buy” and an average target price of $75.03.
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Lululemon Athletica Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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