Richardson Financial Services Inc. Invests $31,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Richardson Financial Services Inc. bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 60 shares of the apparel retailer’s stock, valued at approximately $31,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Lululemon Athletica by 0.5% in the third quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer’s stock valued at $2,824,150,000 after acquiring an additional 38,432 shares during the period. Morgan Stanley boosted its position in shares of Lululemon Athletica by 29.2% in the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after acquiring an additional 437,069 shares during the period. Schroder Investment Management Group boosted its position in shares of Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after acquiring an additional 310,347 shares during the period. Capital World Investors boosted its position in shares of Lululemon Athletica by 0.9% in the fourth quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after acquiring an additional 14,112 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Lululemon Athletica by 11.1% in the third quarter. American Century Companies Inc. now owns 1,373,814 shares of the apparel retailer’s stock valued at $529,756,000 after acquiring an additional 137,454 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Up 2.3 %

Shares of LULU opened at $312.91 on Tuesday. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39. The business’s fifty day moving average is $333.69 and its 200 day moving average is $417.59. The stock has a market cap of $39.11 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.52 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $2.28 EPS. Lululemon Athletica’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts expect that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the purchase, the director now owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their target price on shares of Lululemon Athletica from $437.00 to $447.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. BMO Capital Markets cut their price objective on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research report on Thursday, June 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $357.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 13th. Finally, Piper Sandler cut their price objective on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $433.06.

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.