United Asset Strategies Inc. Raises Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

United Asset Strategies Inc. lifted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 152.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,622 shares of the apparel retailer’s stock after acquiring an additional 3,394 shares during the quarter. United Asset Strategies Inc.’s holdings in Lululemon Athletica were worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LULU. SeaCrest Wealth Management LLC raised its holdings in shares of Lululemon Athletica by 5.4% in the first quarter. SeaCrest Wealth Management LLC now owns 1,362 shares of the apparel retailer’s stock valued at $532,000 after acquiring an additional 70 shares in the last quarter. Norden Group LLC bought a new position in Lululemon Athletica in the first quarter worth about $2,412,000. First Trust Direct Indexing L.P. raised its holdings in Lululemon Athletica by 16.5% in the first quarter. First Trust Direct Indexing L.P. now owns 1,882 shares of the apparel retailer’s stock worth $735,000 after purchasing an additional 267 shares in the last quarter. Van ECK Associates Corp raised its holdings in Lululemon Athletica by 9.1% in the first quarter. Van ECK Associates Corp now owns 38,301 shares of the apparel retailer’s stock worth $14,962,000 after purchasing an additional 3,199 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Lululemon Athletica by 39.2% in the first quarter. Private Advisor Group LLC now owns 10,812 shares of the apparel retailer’s stock worth $4,224,000 after purchasing an additional 3,043 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Securities boosted their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a report on Monday, August 26th. Barclays cut their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. KeyCorp cut their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Finally, Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $354.55.

Lululemon Athletica Stock Down 2.7 %

NASDAQ:LULU traded down $8.29 during trading hours on Thursday, reaching $295.56. 595,830 shares of the stock were exchanged, compared to its average volume of 2,098,430. The company has a market capitalization of $36.29 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.17 and a beta of 1.25. The business has a 50-day moving average of $272.78 and a two-hundred day moving average of $293.03. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $2.68 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the business’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 owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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.