Park Place Capital Corp Decreases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Park Place Capital Corp cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 45.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181 shares of the apparel retailer’s stock after selling 150 shares during the quarter. Park Place Capital Corp’s holdings in Lululemon Athletica were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LULU. AQR Capital Management LLC lifted its stake in Lululemon Athletica by 37.9% in the 3rd quarter. AQR Capital Management LLC now owns 94,048 shares of the apparel retailer’s stock valued at $36,266,000 after buying an additional 25,864 shares in the last quarter. Truist Financial Corp lifted its stake in Lululemon Athletica by 46.4% in the 3rd quarter. Truist Financial Corp now owns 51,050 shares of the apparel retailer’s stock valued at $19,685,000 after buying an additional 16,178 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Lululemon Athletica by 5.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 911 shares of the apparel retailer’s stock valued at $351,000 after buying an additional 43 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Lululemon Athletica by 2.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,944 shares of the apparel retailer’s stock valued at $1,906,000 after acquiring an additional 129 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Lululemon Athletica by 34.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 668,087 shares of the apparel retailer’s stock valued at $257,627,000 after acquiring an additional 171,227 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 1.2 %

NASDAQ:LULU opened at $302.36 on Tuesday. The firm has a market cap of $37.80 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The stock has a fifty day moving average price of $327.07 and a 200 day moving average price of $406.83. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating 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%. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.28 earnings per share. Equities analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica declared that its board has initiated a share buyback plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

LULU has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Lululemon Athletica from $410.00 to $416.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Evercore ISI cut their price objective on shares of Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. Barclays cut their price objective on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating for the company in a report on Thursday, June 6th. Guggenheim cut their price objective on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Wedbush increased their price objective on shares of Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.06.

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.