Alaethes Wealth LLC Buys New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Alaethes Wealth LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,895 shares of the apparel retailer’s stock, valued at approximately $1,462,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Moody National Bank Trust Division grew its stake in shares of Lululemon Athletica by 1.0% in the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after purchasing an additional 30 shares during the period. Graypoint LLC increased its holdings 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 period. William Allan Corp raised its position in shares of Lululemon Athletica by 0.8% during the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after buying an additional 37 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Lululemon Athletica by 50.7% in the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock valued at $58,000 after buying an additional 38 shares during the period. 85.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LULU has been the topic of several research reports. Stifel Nicolaus lowered their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Wedbush decreased their price target on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Telsey Advisory Group lowered their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Trading Down 3.0 %

NASDAQ LULU opened at $262.61 on Friday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a 50-day simple moving average of $259.72 and a 200 day simple moving average of $319.30. The company has a market capitalization of $32.83 billion, a PE ratio of 21.06, a P/E/G ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business posted $2.68 EPS. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.