Lululemon Athletica Inc. (NASDAQ:LULU) Position Boosted by Aviance Capital Partners LLC

Aviance Capital Partners LLC increased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 21.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,081 shares of the apparel retailer’s stock after purchasing an additional 900 shares during the quarter. Aviance Capital Partners LLC’s holdings in Lululemon Athletica were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Valley National Advisers Inc. raised its stake in shares of Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of Lululemon Athletica during the first quarter worth $29,000. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $31,000. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Trading Down 0.4 %

Shares of NASDAQ LULU traded down $1.24 during mid-day trading on Monday, hitting $297.46. The company had a trading volume of 228,933 shares, compared to its average volume of 2,063,026. The company has a market capitalization of $37.18 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm has a 50-day simple moving average of $327.07 and a two-hundred day simple moving average of $406.83. Lululemon Athletica Inc. has a one year low of $293.03 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.28 earnings per share. Lululemon Athletica’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

LULU has been the topic of a number of research analyst reports. Guggenheim lowered their price target on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $357.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 13th. Wells Fargo & Company cut their price objective on 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. Piper Sandler cut their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. 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 company’s stock. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $433.06.

About Lululemon Athletica

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.