Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 889 shares of the apparel retailer’s stock after selling 208 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Lululemon Athletica were worth $347,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Valley National Advisers Inc. grew its stake in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Tidemark LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at about $26,000. Riverview Trust Co bought a new position in Lululemon Athletica in the 1st quarter worth about $29,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $31,000. 85.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LULU. Evercore ISI decreased their price objective on Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. Piper Sandler cut their price objective on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Bank of America upped their price objective on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. BTIG Research initiated coverage on shares of Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price on the stock. Finally, Barclays reduced their price target on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating for the company in a research note on Thursday, June 6th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.06.

Lululemon Athletica Trading Up 1.1 %

LULU opened at $308.30 on Friday. The stock has a fifty day moving average price of $328.92 and a 200 day moving average price of $410.30. Lululemon Athletica Inc. has a 1 year low of $293.03 and a 1 year high of $516.39. The stock has a market cap of $38.54 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.54 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.16. The business 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 firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 EPS. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has authorized a stock buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.