Wealth Alliance Cuts Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Wealth Alliance reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 29.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 986 shares of the apparel retailer’s stock after selling 415 shares during the quarter. Wealth Alliance’s holdings in Lululemon Athletica were worth $294,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its position in shares of 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 last quarter. Congress Wealth Management LLC DE lifted its position in Lululemon Athletica by 2.0% during the fourth 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 last quarter. Graypoint LLC lifted its position in Lululemon Athletica by 5.1% during the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after acquiring an additional 34 shares during the last quarter. William Allan Corp boosted its stake in Lululemon Athletica by 0.8% in the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after acquiring an additional 37 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Lululemon Athletica by 50.7% in 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 during the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 0.2 %

Shares of 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 has a market cap of $33.85 billion, a P/E ratio of 21.71, a PEG ratio of 1.38 and a beta of 1.25. The business has a fifty day moving average of $260.28 and a two-hundred day moving average of $320.61.

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

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

Wall Street Analysts Forecast Growth

LULU has been the subject of several analyst reports. Sanford C. Bernstein decreased their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a report on Friday, August 30th. Guggenheim decreased their price target on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wells Fargo & Company dropped their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Piper Sandler raised their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Wedbush decreased their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Activity at Lululemon Athletica

In related news, CEO Calvin Mcdonald bought 4,000 shares of the 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 completion of the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Lululemon Athletica 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.