Parkside Financial Bank & Trust Raises Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Parkside Financial Bank & Trust lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 14.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 903 shares of the apparel retailer’s stock after buying an additional 116 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Lululemon Athletica were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LULU. Tidemark LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $26,000. Benjamin Edwards Inc. boosted its position in shares of Lululemon Athletica by 176.0% in 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 during the last quarter. Riverview Trust Co acquired a new stake in shares of Lululemon Athletica in the first quarter worth approximately $29,000. Finally, Larson Financial Group LLC boosted its position 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 worth $29,000 after acquiring an additional 43 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $253.84 on Friday. The business has a fifty day moving average of $266.51 and a 200-day moving average of $332.93. The firm has a market cap of $31.73 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business posted $2.68 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica Inc. will post 13.9 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush decreased their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. TD Cowen reduced their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Piper Sandler lifted their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets reduced their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $354.94.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

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.