Valeo Financial Advisors LLC Boosts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Valeo Financial Advisors LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 110.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,623 shares of the apparel retailer’s stock after purchasing an additional 1,898 shares during the period. Valeo Financial Advisors LLC’s holdings in Lululemon Athletica were worth $1,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. Daymark Wealth Partners LLC increased its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after acquiring an additional 21 shares in the last quarter. Simon Quick Advisors LLC increased its stake in shares of Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after acquiring an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of Lululemon Athletica by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after acquiring an additional 23 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 25 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in shares of Lululemon Athletica by 1.0% in the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 0.4 %

LULU opened at $300.32 on Thursday. The company has a market cap of $37.54 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.50 and a beta of 1.26. The company’s 50 day moving average is $324.62 and its 200 day moving average is $404.18. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data 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 net margin of 16.09% and a return on equity of 42.64%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, analysts predict that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on LULU shares. Bank of America increased their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $357.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 13th. BTIG Research initiated coverage on shares of Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 price objective for the company. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. Finally, KeyCorp reduced their price objective on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Two equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.94.

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.