Rothschild Investment LLC Buys Shares of 982 Lululemon Athletica Inc. (NASDAQ:LULU)

Rothschild Investment LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 982 shares of the apparel retailer’s stock, valued at approximately $293,000.

Several other hedge funds have also recently made changes to their positions in LULU. Value Star Asset Management Hong Kong Ltd lifted its holdings in Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the period. Vanguard Group Inc. lifted its stake in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares during the period. Norges Bank bought a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $236,378,000. Northern Trust Corp boosted its holdings in shares of Lululemon Athletica by 32.7% in the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Lululemon Athletica by 61.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock valued at $334,072,000 after buying an additional 249,232 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $259.47 on Tuesday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a market capitalization of $32.43 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company’s 50-day simple moving average is $270.51 and its two-hundred day simple moving average is $336.76.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.68 earnings per share. Equities analysts expect that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share 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 buy up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LULU shares. Piper Sandler raised their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 price target on shares of Lululemon Athletica in a report on Thursday, June 6th. TD Securities upped their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research report on Friday. Bank of America dropped their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $354.94.

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.