Nemes Rush Group LLC Has $833,000 Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Nemes Rush Group LLC raised its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,790 shares of the apparel retailer’s stock after purchasing an additional 170 shares during the quarter. Nemes Rush Group LLC’s holdings in Lululemon Athletica were worth $833,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Benjamin Edwards Inc. increased its holdings in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica in the first quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $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.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price objective on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. JPMorgan Chase & Co. dropped their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company reduced their price objective on shares of 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. Bank of America dropped their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, UBS Group reduced their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $280.01 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company’s fifty day simple moving average is $257.68 and its two-hundred day simple moving average is $311.72. The stock has a market capitalization of $35.00 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released 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 return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its board has authorized a stock repurchase plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.