Los Angeles Capital Management LLC Increases Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Los Angeles Capital Management LLC lifted its position in Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 46.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,104 shares of the apparel retailer’s stock after buying an additional 105,713 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Lululemon Athletica were worth $129,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Moody National Bank Trust Division raised its stake in 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 valued at $1,112,000 after purchasing an additional 29 shares in the last quarter. Strategic Advocates LLC purchased a new position in shares of Lululemon Athletica during the first quarter worth approximately $1,716,000. HighPoint Advisor Group LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $971,000. PNC Financial Services Group Inc. raised its stake in shares of Lululemon Athletica by 21.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,493 shares of the apparel retailer’s stock worth $7,921,000 after acquiring an additional 2,688 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after acquiring an additional 2,369,119 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by insiders.

Lululemon Athletica Stock Performance

Shares of LULU traded up $0.32 during trading hours on Wednesday, hitting $313.23. The company had a trading volume of 1,836,769 shares, compared to its average volume of 3,443,115. The firm has a fifty day moving average price of $332.78 and a 200-day moving average price of $416.51. The stock has a market capitalization of $39.15 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 1.56 and a beta of 1.27. Lululemon Athletica Inc. has a 52-week low of $293.03 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last posted its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. Lululemon Athletica’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. Research analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LULU. BTIG Research began coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They issued a “buy” rating and a $425.00 target price on the stock. Piper Sandler cut their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Morgan Stanley cut their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. UBS Group cut their target price on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Guggenheim cut their target price on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $433.06.

Check Out Our Latest Analysis on LULU

Lululemon Athletica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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