Citizens Financial Group Inc. RI Raises Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Citizens Financial Group Inc. RI grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 10.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 841 shares of the apparel retailer’s stock after purchasing an additional 78 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lululemon Athletica were worth $251,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after acquiring an additional 3,721 shares during the period. Brookstone Capital Management lifted its stake in Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after acquiring an additional 1,148 shares during the period. Gateway Investment Advisers LLC lifted its stake in Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares during the period. Advisory Services Network LLC lifted its stake in Lululemon Athletica by 6.0% in the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after acquiring an additional 319 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Lululemon Athletica by 4.0% in the first quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock worth $3,250,000 after acquiring an additional 321 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Up 0.2 %

Lululemon Athletica stock opened at $270.76 on Friday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock’s 50 day simple moving average is $260.28 and its two-hundred day simple moving average is $320.61. The firm has a market cap of $33.85 billion, a PE ratio of 21.71, a P/E/G ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LULU has been the subject of a number of research reports. TD Securities upped their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. TD Cowen reduced their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. BMO Capital Markets reduced their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a report on Thursday, June 6th. Wedbush reduced their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Finally, Barclays reduced their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

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.