Xponance Inc. Grows Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Xponance Inc. increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,847 shares of the apparel retailer’s stock after acquiring an additional 1,262 shares during the period. Xponance Inc.’s holdings in Lululemon Athletica were worth $8,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LULU. Bank of Montreal Can grew its stake in shares of Lululemon Athletica by 9.3% during the 2nd quarter. Bank of Montreal Can now owns 468,675 shares of the apparel retailer’s stock worth $144,961,000 after purchasing an additional 39,860 shares during the period. Evergreen Capital Management LLC lifted its stake in Lululemon Athletica by 25.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 27,437 shares of the apparel retailer’s stock worth $8,195,000 after purchasing an additional 5,649 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Lululemon Athletica by 70.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,379 shares of the apparel retailer’s stock worth $1,308,000 after purchasing an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Lululemon Athletica by 11.2% in the second quarter. EverSource Wealth Advisors LLC now owns 598 shares of the apparel retailer’s stock valued at $179,000 after purchasing an additional 60 shares in the last quarter. Finally, Deepwater Asset Management LLC increased its holdings in shares of Lululemon Athletica by 25.7% in the second quarter. Deepwater Asset Management LLC now owns 42,673 shares of the apparel retailer’s stock valued at $12,746,000 after purchasing an additional 8,738 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 1.1 %

Shares of LULU stock opened at $259.80 on Tuesday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market capitalization of $32.48 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The business’s 50 day moving average is $259.24 and its two-hundred day moving average is $316.11.

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

Lululemon Athletica announced that its board 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LULU shares. Truist Financial restated a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 28th. Morgan Stanley dropped their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a research note on Sunday, September 1st. Sanford C. Bernstein reduced their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $425.00 in a report on Thursday, June 6th. Finally, Piper Sandler upped their price target on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost 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 directly 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 can be accessed 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.