Comerica Bank Sells 1,057 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Comerica Bank decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,729 shares of the apparel retailer’s stock after selling 1,057 shares during the period. Comerica Bank’s holdings in Lululemon Athletica were worth $14,348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sheaff Brock Investment Advisors LLC purchased a new stake in Lululemon Athletica in the 4th quarter worth about $1,114,000. Brookstone Capital Management raised its holdings in shares of Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after buying an additional 1,148 shares during the period. Advisory Services Network LLC lifted its stake in shares of Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after acquiring an additional 319 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Lululemon Athletica by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after acquiring an additional 321 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Lululemon Athletica by 42.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after acquiring an additional 805 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 4.6 %

NASDAQ:LULU traded down $11.54 during trading hours on Friday, hitting $237.51. 1,090,264 shares of the stock were exchanged, compared to its average volume of 2,091,720. The company has a market cap of $29.69 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 1.26. The firm’s fifty day moving average price is $295.65 and its 200 day moving average price is $371.74. Lululemon Athletica Inc. has a 52-week low of $236.50 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $2.28 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LULU shares. Piper Sandler decreased their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Truist Financial lowered their price objective on shares of Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Morgan Stanley decreased their price target on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Wedbush upped their price objective on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Finally, Sanford C. Bernstein increased their target price on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $406.68.

Lululemon Athletica 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.