Davidson Capital Management Inc. Purchases 10,152 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Davidson Capital Management Inc. lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 67,680.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,167 shares of the apparel retailer’s stock after purchasing an additional 10,152 shares during the period. Davidson Capital Management Inc.’s holdings in Lululemon Athletica were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LULU. Avantax Advisory Services Inc. lifted its holdings in shares of Lululemon Athletica by 25.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock worth $418,000 after buying an additional 164 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in Lululemon Athletica by 3.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,199 shares of the apparel retailer’s stock worth $613,000 after purchasing an additional 45 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Lululemon Athletica by 21.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,493 shares of the apparel retailer’s stock valued at $7,921,000 after purchasing an additional 2,688 shares during the period. Coldstream Capital Management Inc. acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $391,000. Finally, Corient Private Wealth LLC increased its holdings in shares of Lululemon Athletica by 95.1% during the fourth quarter. Corient Private Wealth LLC now owns 70,148 shares of the apparel retailer’s stock worth $35,866,000 after purchasing an additional 34,188 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LULU has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. UBS Group decreased their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Raymond James cut their price objective on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a report on Sunday, September 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $310.00 price target on shares of Lululemon Athletica in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Price Performance

Shares of LULU opened at $270.76 on Friday. The business has a 50-day moving average of $260.28 and a 200-day moving average of $320.61. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company earned $2.68 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

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.