New York State Common Retirement Fund Has $88 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

New York State Common Retirement Fund trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,121 shares of the apparel retailer’s stock after selling 25,426 shares during the period. New York State Common Retirement Fund owned 0.14% of Lululemon Athletica worth $88,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LULU. Daymark Wealth Partners LLC increased its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after buying an additional 21 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after buying an additional 22 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of Lululemon Athletica by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares during the period. Baker Avenue Asset Management LP increased its stake in shares of Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 25 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in shares of Lululemon Athletica by 3.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock valued at $312,000 after buying an additional 26 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU traded up $3.25 during trading on Tuesday, reaching $365.04. 669,527 shares of the company’s stock were exchanged, compared to its average volume of 1,777,150. The business has a 50 day moving average price of $418.00 and a 200-day moving average price of $439.39. The stock has a market capitalization of $46.00 billion, a P/E ratio of 29.63, a PEG ratio of 1.25 and a beta of 1.30. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.40 earnings per share. On average, analysts forecast that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on LULU. Evercore ISI lowered their target price on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company decreased their price objective on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a research note on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $445.00 price objective (down from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 22nd. Finally, Jefferies Financial Group decreased their price objective on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $483.61.

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.