Valeo Financial Advisors LLC Acquires 1,898 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Valeo Financial Advisors LLC grew its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 110.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,623 shares of the apparel retailer’s stock after buying an additional 1,898 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Lululemon Athletica were worth $1,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LULU. Daymark Wealth Partners LLC grew its stake in Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after buying an additional 21 shares during the last quarter. Simon Quick Advisors LLC grew its stake in Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after buying an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in Lululemon Athletica by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 25 shares during the last quarter. Finally, Moody National Bank Trust Division grew its position in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after purchasing an additional 29 shares in the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Down 0.4 %

LULU opened at $300.32 on Thursday. Lululemon Athletica Inc. has a twelve month low of $293.03 and a twelve month high of $516.39. The company has a fifty day moving average of $324.62 and a 200-day moving average of $404.18. The stock has a market cap of $37.54 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $2.28 earnings per share. Lululemon Athletica’s revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate 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 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 usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America increased their target price 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. KeyCorp decreased their target price on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Oppenheimer restated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. Telsey Advisory Group decreased their target price on shares of Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. Finally, Sanford C. Bernstein increased their target price on shares of Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $431.94.

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.