Ballentine Partners LLC Decreases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Ballentine Partners LLC trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 649 shares of the apparel retailer’s stock after selling 51 shares during the quarter. Ballentine Partners LLC’s holdings in Lululemon Athletica were worth $254,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Fund Management LLC raised its position in shares of Lululemon Athletica by 4.8% in the first quarter. Royal Fund Management LLC now owns 4,240 shares of the apparel retailer’s stock valued at $1,656,000 after buying an additional 194 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Lululemon Athletica by 7.1% in the 1st quarter. International Assets Investment Management LLC now owns 1,442 shares of the apparel retailer’s stock valued at $555,000 after acquiring an additional 96 shares during the last quarter. 17 Capital Partners LLC lifted its stake in Lululemon Athletica by 6.0% in the 1st quarter. 17 Capital Partners LLC now owns 1,060 shares of the apparel retailer’s stock worth $414,000 after purchasing an additional 60 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of Lululemon Athletica by 7.0% in the first quarter. Gulf International Bank UK Ltd now owns 1,149 shares of the apparel retailer’s stock valued at $448,000 after purchasing an additional 75 shares in the last quarter. Finally, RFG Advisory LLC increased its holdings in shares of Lululemon Athletica by 6.0% in the first quarter. RFG Advisory LLC now owns 1,547 shares of the apparel retailer’s stock valued at $604,000 after purchasing an additional 87 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LULU has been the subject of several analyst reports. UBS Group dropped their target price on Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Bank of America raised their price objective on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their target price for the company from $405.00 to $425.00 in a report on Thursday, June 6th. BMO Capital Markets cut their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a report on Thursday, June 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. Two investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.06.

Lululemon Athletica Stock Performance

LULU stock opened at $309.07 on Wednesday. Lululemon Athletica Inc. has a fifty-two week low of $293.03 and a fifty-two week high of $516.39. The company’s 50 day moving average price is $329.73 and its 200 day moving average price is $411.05. The firm has a market capitalization of $38.63 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.55 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. Equities analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated 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 repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is 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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.