American Century Companies Inc. Has $528.43 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

American Century Companies Inc. grew its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,769,096 shares of the apparel retailer’s stock after purchasing an additional 82,731 shares during the period. American Century Companies Inc. owned about 1.42% of Lululemon Athletica worth $528,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its position in Lululemon Athletica by 22.2% during the 4th quarter. QRG Capital Management Inc. now owns 4,033 shares of the apparel retailer’s stock worth $2,062,000 after buying an additional 733 shares during the period. Checchi Capital Advisers LLC boosted its position in Lululemon Athletica by 6.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 901 shares of the apparel retailer’s stock worth $461,000 after buying an additional 58 shares during the period. Avantax Advisory Services Inc. boosted its position in Lululemon Athletica by 25.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock worth $418,000 after buying an additional 164 shares during the period. Moran Wealth Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $254,000. Finally, Quotient Wealth Partners LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $431,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LULU. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. dropped their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley dropped their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a research report on Sunday, September 1st. Oppenheimer restated an “outperform” rating and issued a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Finally, Barclays lowered their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $255.20 on Thursday. The company’s 50-day moving average is $263.45 and its 200 day moving average is $327.92. The company has a market capitalization of $31.90 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. As a group, research analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Lululemon Athletica Company 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.