AdvisorNet Financial Inc cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 535 shares of the apparel retailer’s stock after selling 75 shares during the quarter. AdvisorNet Financial Inc’s holdings in Lululemon Athletica were worth $195,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of LULU. EP Wealth Advisors LLC increased its holdings in shares of Lululemon Athletica by 6.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,514 shares of the apparel retailer’s stock valued at $613,000 after purchasing an additional 95 shares in the last quarter. Moors & Cabot Inc. purchased a new position in shares of Lululemon Athletica during the 3rd quarter valued at approximately $291,000. Fulton Bank N.A. increased its holdings in shares of Lululemon Athletica by 18.1% during the 4th quarter. Fulton Bank N.A. now owns 2,592 shares of the apparel retailer’s stock valued at $1,014,000 after purchasing an additional 397 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Lululemon Athletica by 109.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,132 shares of the apparel retailer’s stock valued at $443,000 after purchasing an additional 591 shares in the last quarter. Finally, XR Securities LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $238,000. 85.48% of the stock is owned by institutional investors.
In related news, Director Kourtney Gibson purchased 200 shares of Lululemon Athletica stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average price of $280.12 per share, for a total transaction of $56,024.00. Following the acquisition, the director now directly owns 1,302 shares in the company, valued at $364,716.24. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.
Shares of LULU opened at $282.98 on Thursday. Lululemon Athletica Inc. has a 52-week low of $251.51 and a 52-week high of $485.83. The firm’s fifty day moving average is $304.16 and its two-hundred day moving average is $330.46. The stock has a market cap of $36.12 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.
Lululemon Athletica (NASDAQ:LULU – Get Rating) last posted its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, sell-side analysts predict that Lululemon Athletica Inc. will post 9.47 EPS for the current year.
Lululemon Athletica declared that its board has approved a stock repurchase program on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
LULU has been the subject of several recent research reports. TheStreet raised shares of Lululemon Athletica from a “c+” rating to a “b” rating in a report on Monday, April 11th. Credit Suisse Group cut their target price on shares of Lululemon Athletica from $450.00 to $410.00 and set an “outperform” rating for the company in a report on Friday, June 3rd. Wedbush initiated coverage on shares of Lululemon Athletica in a report on Thursday, April 28th. They set an “outperform” rating and a $430.00 target price for the company. Truist Financial raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price target for the company from $390.00 to $495.00 in a research note on Tuesday, April 19th. Finally, Cowen dropped their price target on shares of Lululemon Athletica from $507.00 to $497.00 in a research note on Thursday, April 21st. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $423.88.
About Lululemon Athletica (Get Rating)
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories 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 and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.
Further Reading
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