Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,655 shares of the apparel retailer’s stock after purchasing an additional 878 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lululemon Athletica were worth $3,183,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC bought a new position in Lululemon Athletica during the second quarter worth $456,000. BOKF NA lifted its stake in Lululemon Athletica by 1.8% during the second quarter. BOKF NA now owns 11,128 shares of the apparel retailer’s stock worth $3,324,000 after purchasing an additional 197 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in Lululemon Athletica by 6.9% during the second quarter. Achmea Investment Management B.V. now owns 37,566 shares of the apparel retailer’s stock worth $11,221,000 after purchasing an additional 2,428 shares during the last quarter. Forsta AP Fonden lifted its stake in Lululemon Athletica by 69.7% during the second quarter. Forsta AP Fonden now owns 41,400 shares of the apparel retailer’s stock worth $12,366,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Lululemon Athletica during the second quarter worth $386,000. 85.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Trading Up 2.5 %

Shares of LULU opened at $266.76 on Monday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The business’s 50-day moving average price is $262.01 and its 200 day moving average price is $324.07. The stock has a market capitalization of $33.35 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 EPS. On average, research analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their target price on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Citigroup cut their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Telsey Advisory Group cut their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Wedbush cut their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Finally, Robert W. Baird cut their target price on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

Lululemon Athletica Company 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.