Meeder Asset Management Inc. increased its holdings in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,789 shares of the apparel retailer’s stock after acquiring an additional 2,431 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lululemon Athletica were worth $2,486,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LULU. Vanguard Capital Wealth Advisors raised its stake in shares of Lululemon Athletica by 17.7% in the second quarter. Vanguard Capital Wealth Advisors now owns 8,814 shares of the apparel retailer’s stock valued at $1,588,000 after buying an additional 1,325 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Lululemon Athletica by 1.8% in the second quarter. Eagle Asset Management Inc. now owns 727,179 shares of the apparel retailer’s stock valued at $131,044,000 after buying an additional 13,170 shares during the period. Institute for Wealth Management LLC. bought a new stake in shares of Lululemon Athletica in the second quarter valued at $253,000. Qube Research & Technologies Ltd raised its stake in shares of Lululemon Athletica by 153.6% in the second quarter. Qube Research & Technologies Ltd now owns 7,975 shares of the apparel retailer’s stock valued at $1,437,000 after buying an additional 4,830 shares during the period. Finally, Spectrum Management Group Inc. raised its stake in shares of Lululemon Athletica by 499.0% in the second quarter. Spectrum Management Group Inc. now owns 1,767 shares of the apparel retailer’s stock valued at $318,000 after buying an additional 1,472 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.
In related news, Director David M. Mussafer sold 4,484 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $186.10, for a total transaction of $834,472.40. Following the completion of the transaction, the director now directly owns 18,947 shares in the company, valued at $3,526,036.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.
Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Lululemon Athletica had a return on equity of 38.77% and a net margin of 14.77%. The business had revenue of $782.30 million during the quarter, compared to analysts’ expectations of $755.92 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Lululemon Athletica inc. will post 4.7 earnings per share for the current year.
Several analysts have issued reports on the company. Cowen set a $200.00 target price on Lululemon Athletica and gave the company a “buy” rating in a research note on Thursday, June 13th. Telsey Advisory Group restated an “outperform” rating and issued a $205.00 target price (up from $200.00) on shares of Lululemon Athletica in a research note on Thursday, June 13th. DA Davidson decreased their price objective on Lululemon Athletica to $175.00 and set an “average” rating on the stock in a research note on Tuesday, July 9th. Argus boosted their price objective on Lululemon Athletica to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity boosted their price objective on Lululemon Athletica from $191.00 to $194.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Eleven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Lululemon Athletica presently has a consensus rating of “Buy” and an average target price of $190.72.
About Lululemon Athletica
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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