Miracle Mile Advisors LLC Has $293,000 Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Miracle Mile Advisors LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 26.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 750 shares of the apparel retailer’s stock after selling 271 shares during the period. Miracle Mile Advisors LLC’s holdings in Lululemon Athletica were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LULU. Little House Capital LLC grew its holdings in Lululemon Athletica by 50.1% during the first quarter. Little House Capital LLC now owns 1,370 shares of the apparel retailer’s stock valued at $535,000 after purchasing an additional 457 shares during the period. Aviance Capital Partners LLC boosted its position in shares of Lululemon Athletica by 21.5% during the first quarter. Aviance Capital Partners LLC now owns 5,081 shares of the apparel retailer’s stock worth $1,985,000 after purchasing an additional 900 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Lululemon Athletica by 17.8% in the 1st quarter. SteelPeak Wealth LLC now owns 1,944 shares of the apparel retailer’s stock valued at $759,000 after buying an additional 294 shares during the period. Deltec Asset Management LLC bought a new stake in shares of Lululemon Athletica in the 1st quarter valued at $586,000. Finally, Silverleafe Capital Partners LLC increased its position in shares of Lululemon Athletica by 54.5% in the 1st quarter. Silverleafe Capital Partners LLC now owns 1,700 shares of the apparel retailer’s stock valued at $664,000 after buying an additional 600 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley decreased 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. Sanford C. Bernstein boosted their price objective 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. BTIG Research began coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Finally, UBS Group dropped their price objective on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.06.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $302.36 on Tuesday. Lululemon Athletica Inc. has a 52 week low of $293.03 and a 52 week high of $516.39. The stock has a market capitalization of $37.80 billion, a P/E ratio of 24.25, a PEG ratio of 1.49 and a beta of 1.26. The stock has a 50-day simple moving average of $327.07 and a 200 day simple moving average of $406.83.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results 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 business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business earned $2.28 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts forecast that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a share buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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.