Rhumbline Advisers Increases Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Rhumbline Advisers lifted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,606 shares of the apparel retailer’s stock after buying an additional 4,556 shares during the quarter. Rhumbline Advisers owned about 0.17% of Lululemon Athletica worth $64,700,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Tidemark LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $26,000. Benjamin Edwards Inc. boosted its position in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co acquired a new stake in shares of Lululemon Athletica in the 1st quarter valued at about $29,000. Finally, True Wealth Design LLC grew its stake in Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LULU shares. Stifel Nicolaus decreased their price objective on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Sanford C. Bernstein lowered their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Citigroup reduced their target price on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. TD Securities raised their price target on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Piper Sandler upped their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Down 1.0 %

Shares of LULU stock opened at $255.51 on Thursday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The business has a fifty day simple moving average of $268.50 and a 200-day simple moving average of $334.85. The stock has a market cap of $31.94 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.40 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lululemon Athletica Inc. will post 13.9 earnings per share for the current year.

Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.