Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 140.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,723 shares of the apparel retailer's stock after purchasing an additional 22,637 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Lululemon Athletica were worth $11,567,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lululemon Athletica by 736.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,898 shares of the apparel retailer's stock valued at $970,000 after buying an additional 1,671 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in Lululemon Athletica by 75.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 988 shares of the apparel retailer's stock valued at $505,000 after acquiring an additional 426 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $357,000. Private Advisor Group LLC lifted its holdings in shares of Lululemon Athletica by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 7,769 shares of the apparel retailer's stock valued at $3,972,000 after purchasing an additional 165 shares during the last quarter. Finally, Lincoln National Corp boosted its position in shares of Lululemon Athletica by 19.0% in the 4th quarter. Lincoln National Corp now owns 1,507 shares of the apparel retailer's stock worth $771,000 after purchasing an additional 241 shares in the last quarter. Institutional investors own 85.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on LULU. TD Cowen decreased their price target on Lululemon Athletica from $420.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Wedbush dropped their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 28th. Evercore ISI restated an "outperform" rating and set a $300.00 price target on shares of Lululemon Athletica in a research note on Monday, August 26th. Telsey Advisory Group lowered their price objective on shares of Lululemon Athletica from $470.00 to $360.00 and set an "outperform" rating for the company in a research note on Monday, August 26th. Finally, HSBC raised Lululemon Athletica from a "hold" rating to a "buy" rating and upped their target price for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.94.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Lululemon Athletica Stock Performance

Lululemon Athletica stock traded down $1.81 during trading on Thursday, reaching $253.70. The company had a trading volume of 1,936,660 shares, compared to its average volume of 2,141,210. The firm has a market capitalization of $31.71 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The firm's 50-day simple moving average is $268.50 and its 200 day simple moving average is $334.85. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $2.68 EPS. Lululemon Athletica's quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

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

Lululemon Athletica 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.