Integrated Advisors Network LLC Raises Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Integrated Advisors Network LLC grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679 shares of the apparel retailer’s stock after buying an additional 76 shares during the period. Integrated Advisors Network LLC’s holdings in Lululemon Athletica were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. QRG Capital Management Inc. bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $1,272,000. Envestnet Asset Management Inc. raised its position in shares of Lululemon Athletica by 30.3% during the third quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after buying an additional 44,141 shares during the last quarter. Invesco Ltd. raised its position in shares of Lululemon Athletica by 24.5% during the third quarter. Invesco Ltd. now owns 377,755 shares of the apparel retailer’s stock valued at $145,666,000 after buying an additional 74,445 shares during the last quarter. Rathbones Group PLC bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $4,124,000. Finally, V Square Quantitative Management LLC raised its position in shares of Lululemon Athletica by 10.6% during the third quarter. V Square Quantitative Management LLC now owns 770 shares of the apparel retailer’s stock valued at $297,000 after buying an additional 74 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the topic of several research reports. Robert W. Baird reduced their price target on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. UBS Group reduced their price target on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Barclays reduced their price target on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Piper Sandler reduced their price target on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company reduced their price target on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $433.06.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $313.23 on Wednesday. Lululemon Athletica Inc. has a fifty-two week low of $293.03 and a fifty-two week high of $516.39. The stock has a market capitalization of $39.15 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.52 and a beta of 1.27. The company’s 50-day simple moving average is $332.78 and its 200-day simple moving average is $416.51.

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

Lululemon Athletica declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Martha A. M. Morfitt purchased 700 shares of the stock in a transaction dated 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 acquisition, 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 SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

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.