Wealth Advisors of Tampa Bay LLC Purchases 530 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Wealth Advisors of Tampa Bay LLC raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 19.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,237 shares of the apparel retailer’s stock after acquiring an additional 530 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in Lululemon Athletica were worth $967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd boosted its position in shares of Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after purchasing an additional 4,630,466 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after acquiring an additional 2,369,119 shares in the last quarter. Northern Trust Corp grew its stake in shares of Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after acquiring an additional 257,944 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Lululemon Athletica by 2,485.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 238,664 shares of the apparel retailer’s stock valued at $122,027,000 after acquiring an additional 229,433 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Lululemon Athletica by 38.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock valued at $220,423,000 after purchasing an additional 203,882 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LULU. Barclays cut their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Morgan Stanley lowered their price target on Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a research report on Sunday, September 1st. Stifel Nicolaus cut their price objective on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Raymond James dropped their target price on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Trading Up 0.2 %

Lululemon Athletica stock opened at $270.76 on Friday. The company has a 50-day moving average price of $260.28 and a 200 day moving average price of $320.61. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock has a market cap of $33.85 billion, a P/E ratio of 21.71, a PEG ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $2.68 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has authorized a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.