Lake Street Private Wealth LLC Sells 120 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Lake Street Private Wealth LLC lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,699 shares of the apparel retailer’s stock after selling 120 shares during the period. Lake Street Private Wealth LLC’s holdings in Lululemon Athletica were worth $664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LULU. Sheaff Brock Investment Advisors LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth $1,114,000. Rockline Wealth Management LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at approximately $1,503,000. Brookstone Capital Management lifted its holdings in shares of Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after acquiring an additional 1,148 shares during the period. Advisory Services Network LLC boosted its position in shares of Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after acquiring an additional 319 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in Lululemon Athletica by 10.9% in the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after acquiring an additional 168 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $300.32 on Thursday. The stock has a market capitalization of $37.54 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.50 and a beta of 1.26. Lululemon Athletica Inc. has a 52-week low of $293.03 and a 52-week high of $516.39. The stock’s 50 day moving average price is $324.62 and its two-hundred day moving average price is $404.18.

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 the consensus estimate 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 analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. Lululemon Athletica’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LULU shares. Sanford C. Bernstein raised their target price on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Wells Fargo & Company reduced their price objective on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. KeyCorp lowered their target price on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Evercore ISI reduced their price target on shares of Lululemon Athletica from $515.00 to $400.00 in a research note on Wednesday, June 5th. Finally, TD Securities lowered their price objective on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Two 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. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $431.94.

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.