NCP Inc. Reduces Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

NCP Inc. cut its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 50.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 600 shares of the apparel retailer’s stock after selling 600 shares during the quarter. NCP Inc.’s holdings in Lululemon Athletica were worth $179,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LULU. Brown Financial Advisors acquired a new position in shares of Lululemon Athletica during the second quarter valued at about $260,000. KPP Advisory Services LLC acquired a new stake in Lululemon Athletica in the 2nd quarter worth approximately $517,000. Teachers Retirement System of The State of Kentucky grew its position in Lululemon Athletica by 8.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,492 shares of the apparel retailer’s stock worth $7,315,000 after purchasing an additional 1,918 shares during the last quarter. Quarry LP increased its stake in Lululemon Athletica by 285.9% during the 2nd quarter. Quarry LP now owns 355 shares of the apparel retailer’s stock valued at $106,000 after purchasing an additional 263 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Lululemon Athletica by 9.0% in the second quarter. Sunbelt Securities Inc. now owns 908 shares of the apparel retailer’s stock worth $271,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 1.8 %

LULU stock opened at $266.45 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The business’s 50-day moving average is $257.11 and its 200 day moving average is $307.84. The stock has a market cap of $33.31 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $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 14.03 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets cut their target price on 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. Wedbush reduced their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Finally, Robert W. Baird dropped their price objective on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.55.

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.