Ocean Capital Management LLC Has $5.11 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Ocean Capital Management LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,999 shares of the apparel retailer’s stock after selling 207 shares during the quarter. Lululemon Athletica makes up approximately 2.1% of Ocean Capital Management LLC’s holdings, making the stock its 10th biggest holding. Ocean Capital Management LLC’s holdings in Lululemon Athletica were worth $5,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LULU. Vanguard Group Inc. increased its stake in shares of Lululemon Athletica by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer’s stock valued at $2,824,150,000 after buying an additional 38,432 shares during the period. State Street Corp boosted its holdings in Lululemon Athletica by 0.7% in the first quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock valued at $959,144,000 after acquiring an additional 18,147 shares during the last quarter. Morgan Stanley increased its position in Lululemon Athletica by 29.2% in the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares during the period. Schroder Investment Management Group raised its holdings in Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after purchasing an additional 310,347 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Lululemon Athletica by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 1,659,260 shares of the apparel retailer’s stock worth $603,418,000 after purchasing an additional 51,572 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $390.65 on Friday. The company’s 50-day moving average price is $458.01 and its two-hundred day moving average price is $441.95. Lululemon Athletica Inc. has a one year low of $326.93 and a one year high of $516.39. The stock has a market capitalization of $49.30 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company posted $4.40 earnings per share. Lululemon Athletica’s revenue was up 15.6% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.17 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has authorized a share repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 1.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Lululemon Athletica

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

Wall Street Analyst Weigh In

LULU has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of Lululemon Athletica from $450.00 to $540.00 and gave the stock an “outperform” rating in a research report on Friday, December 8th. UBS Group lifted their price objective on Lululemon Athletica from $429.00 to $470.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Citigroup cut their target price on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Robert W. Baird raised their target price on Lululemon Athletica from $520.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Piper Sandler cut their price target on shares of Lululemon Athletica from $560.00 to $525.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $493.66.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.