Lululemon Athletica Inc. (NASDAQ:LULU) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 841 shares of the apparel retailer’s stock after purchasing an additional 78 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lululemon Athletica were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its stake in shares of Lululemon Athletica by 25.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock worth $418,000 after acquiring an additional 164 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Lululemon Athletica by 3.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,199 shares of the apparel retailer’s stock worth $613,000 after acquiring an additional 45 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Lululemon Athletica by 21.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,493 shares of the apparel retailer’s stock worth $7,921,000 after acquiring an additional 2,688 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Lululemon Athletica in the 4th quarter worth $391,000. Finally, Corient Private Wealth LLC increased its stake in shares of Lululemon Athletica by 95.1% in the 4th quarter. Corient Private Wealth LLC now owns 70,148 shares of the apparel retailer’s stock worth $35,866,000 after acquiring an additional 34,188 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Up 0.2 %

LULU opened at $270.76 on Friday. The firm has a market cap of $33.85 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The business’s 50 day moving average is $260.28 and its two-hundred day moving average is $320.61.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS 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 analyst estimates 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 was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 earnings per share. Equities analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica announced that its board has authorized a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value 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 approximately $23,379,720. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LULU has been the subject of a number of recent analyst reports. Bank of America cut their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Barclays cut their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Finally, Guggenheim cut their price objective on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

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.