Raymond James Trust N.A. Has $449,000 Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Raymond James Trust N.A. lessened its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 37.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,503 shares of the apparel retailer’s stock after selling 888 shares during the quarter. Raymond James Trust N.A.’s holdings in Lululemon Athletica were worth $449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidemark LLC acquired a new position in Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new position in Lululemon Athletica during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in Lululemon Athletica during the fourth quarter worth about $31,000. True Wealth Design LLC raised its stake in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $271.18 on Wednesday. The stock has a market capitalization of $33.90 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock’s 50 day moving average price is $275.58 and its two-hundred day moving average price is $343.83.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. Lululemon Athletica’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LULU has been the subject of several research analyst reports. Citigroup lowered their target price 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. BTIG Research started coverage on Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price for the company. Raymond James reduced their price target on Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird reduced their price target on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Jefferies Financial Group restated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.45.

Lululemon Athletica Company 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.