EP Wealth Advisors LLC Sells 159 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

EP Wealth Advisors LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,466 shares of the apparel retailer’s stock after selling 159 shares during the period. EP Wealth Advisors LLC’s holdings in Lululemon Athletica were worth $737,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Moody National Bank Trust Division increased its stake in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after purchasing an additional 29 shares during the last quarter. Graypoint LLC increased its stake in shares of Lululemon Athletica by 5.1% during the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after purchasing an additional 34 shares during the last quarter. William Allan Corp increased its stake in shares of Lululemon Athletica by 0.8% during 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 last quarter. Bleakley Financial Group LLC increased its stake in shares of Lululemon Athletica by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock worth $738,000 after purchasing an additional 38 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were 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 of the company’s stock, valued at $1,670,918.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were 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 of the company’s stock, valued at $1,670,918.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction 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 disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LULU has been the subject of several research analyst reports. TD Securities raised their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a research note on Tuesday. Truist Financial reiterated a “buy” rating and issued a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Raymond James reduced their price objective on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Finally, HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $260.53 on Thursday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a market capitalization of $32.57 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.40 and a beta of 1.25. The company has a fifty day moving average of $256.88 and a 200-day moving average of $307.51.

Lululemon Athletica (NASDAQ:LULU) last posted 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a share repurchase 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 buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.