Quarry LP Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Quarry LP raised its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 285.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355 shares of the apparel retailer’s stock after acquiring an additional 263 shares during the period. Quarry LP’s holdings in Lululemon Athletica were worth $106,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LULU. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter worth $31,000. True Wealth Design LLC raised its position in shares of Lululemon Athletica by 2,950.0% during the 4th 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 in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of 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 acquiring an additional 44 shares during the last quarter. Finally, Riverview Trust Co bought a new position in Lululemon Athletica in the first quarter valued at $29,000. Institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Performance

LULU stock opened at $266.45 on Wednesday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a market capitalization of $33.31 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The business’s 50 day moving average price is $257.11 and its two-hundred day moving average price is $307.84.

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

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase program 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 programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LULU shares. Citigroup dropped their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays decreased their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. TD Securities increased their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Guggenheim decreased their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.55.

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.