CoreCap Advisors LLC Invests $285,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

CoreCap Advisors LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 558 shares of the apparel retailer’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Union Savings Bank purchased a new position in Lululemon Athletica during the second quarter worth about $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica during the third quarter valued at about $27,000. Bogart Wealth LLC increased its position in shares of Lululemon Athletica by 270.0% during the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. Founders Capital Management acquired a new stake in shares of Lululemon Athletica during the third quarter valued at about $39,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in shares of Lululemon Athletica during the second quarter valued at about $43,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BNP Paribas cut shares of Lululemon Athletica from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $430.00 to $415.00 in a report on Friday, February 9th. Needham & Company LLC lowered their price target on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Oppenheimer boosted their price target on shares of Lululemon Athletica from $450.00 to $540.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. Raymond James boosted their price target on shares of Lululemon Athletica from $495.00 to $520.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lululemon Athletica from $500.00 to $502.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.66.

Lululemon Athletica Stock Up 0.9 %

NASDAQ:LULU opened at $389.46 on Thursday. Lululemon Athletica Inc. has a fifty-two week low of $314.22 and a fifty-two week high of $516.39. The stock has a market cap of $49.15 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33. The firm’s fifty day simple moving average is $459.59 and its 200-day simple moving average is $442.32.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company posted $4.40 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.24 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.