Processus Wealth & Capital Management LLC Invests $1.81 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

Processus Wealth & Capital Management LLC acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,540 shares of the apparel retailer’s stock, valued at approximately $1,810,000. Lululemon Athletica comprises approximately 1.8% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 21st biggest holding.

A number of other large investors have also recently made changes to their positions in the business. Richardson Financial Services Inc. bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $31,000. Shorepath Capital Management LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $3,226,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. American International Group Inc. grew its position in shares of Lululemon Athletica by 378.9% in the 4th quarter. American International Group Inc. now owns 39,616 shares of the apparel retailer’s stock worth $20,255,000 after buying an additional 31,343 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of Lululemon Athletica by 90.5% in the 4th quarter. EP Wealth Advisors LLC now owns 4,453 shares of the apparel retailer’s stock valued at $2,277,000 after purchasing an additional 2,115 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Down 0.5 %

NASDAQ LULU opened at $306.01 on Monday. The firm has a market cap of $38.25 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. The business has a 50-day moving average price of $334.65 and a 200-day moving average price of $418.53. Lululemon Athletica Inc. has a twelve month low of $293.03 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.28 earnings per share. Research analysts expect that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Morgan Stanley lowered their target price on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Piper Sandler lowered their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Bank of America raised their target price on Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Needham & Company LLC lowered their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $433.06.

Insider Buying and Selling

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.