Edgestream Partners L.P. Takes $2.75 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Edgestream Partners L.P. purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,211 shares of the apparel retailer’s stock, valued at approximately $2,751,000.

A number of other large investors also recently bought and sold shares of the business. Moody National Bank Trust Division lifted its holdings in shares of Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after purchasing an additional 29 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Lululemon Athletica by 2.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after buying an additional 30 shares during the last quarter. Graypoint LLC boosted its holdings in Lululemon Athletica by 5.1% in the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after acquiring an additional 34 shares in the last quarter. William Allan Corp grew its stake in shares of Lululemon Athletica by 0.8% in the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after acquiring an additional 37 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Lululemon Athletica by 50.7% during the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock valued at $58,000 after acquiring an additional 38 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $270.20 on Thursday. The firm has a market capitalization of $33.78 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The business has a 50 day simple moving average of $260.65 and a two-hundred day simple moving average of $320.96. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

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

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

Wall Street Analyst Weigh In

A number of analysts have commented on LULU shares. Sanford C. Bernstein reduced their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. KeyCorp reduced their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a report on Thursday, July 25th. Finally, TD Securities lifted their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently 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.