KCM Investment Advisors LLC Cuts Position in Lululemon Athletica Inc. (NASDAQ:LULU)

KCM Investment Advisors LLC trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,845 shares of the apparel retailer’s stock after selling 85 shares during the quarter. KCM Investment Advisors LLC’s holdings in Lululemon Athletica were worth $2,642,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tidemark LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth about $26,000. Benjamin Edwards Inc. raised 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 valued at $27,000 after buying an additional 44 shares during the period. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica during the 1st quarter valued at about $29,000. Finally, True Wealth Design LLC raised its holdings 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 during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 0.2 %

Shares of NASDAQ LULU opened at $259.47 on Friday. The company has a market cap of $32.43 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock’s 50 day simple moving average is $272.61 and its 200 day simple moving average is $341.27.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.23. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on LULU shares. Guggenheim dropped their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday. KeyCorp dropped their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets dropped their target price on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a report on Thursday, June 6th. Telsey Advisory Group lowered their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Finally, Raymond James lowered their price objective on Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $355.84.

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.