Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 76.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 909 shares of the apparel retailer’s stock after selling 3,018 shares during the quarter. Hollencrest Capital Management’s holdings in Lululemon Athletica were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Moody National Bank Trust Division grew its position in Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after buying an additional 29 shares during the period. Congress Wealth Management LLC DE grew its position in shares of Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after acquiring an additional 30 shares during the period. Graypoint LLC increased its stake in shares of Lululemon Athletica by 5.1% in the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after purchasing an additional 34 shares in the last quarter. William Allan Corp raised its holdings in Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after purchasing an additional 37 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its position in Lululemon Athletica by 50.7% during the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 0.2 %

NASDAQ:LULU opened at $270.76 on Friday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock’s fifty day moving average is $260.28 and its two-hundred day moving average is $320.61. The stock has a market capitalization of $33.85 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 EPS. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on LULU. BMO Capital Markets cut their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research report on Thursday, June 6th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Thursday, July 25th. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. Truist Financial reaffirmed a “buy” rating and issued a $310.00 price target on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Finally, KeyCorp cut their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $354.94.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

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.