Alaethes Wealth LLC Buys New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Alaethes Wealth LLC purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,895 shares of the apparel retailer’s stock, valued at approximately $1,462,000.

A number of other institutional investors also recently made changes to their positions in the stock. Tidemark LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at $26,000. Benjamin Edwards Inc. boosted its stake in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares in the last quarter. Riverview Trust Co acquired a new position in Lululemon Athletica during the first quarter worth about $29,000. Finally, Larson Financial Group LLC raised its position in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LULU. Barclays reduced their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. UBS Group decreased their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Sanford C. Bernstein cut their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. KeyCorp reduced their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, Piper Sandler boosted their target price on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired 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 owns 89,922 shares of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Down 3.0 %

NASDAQ LULU opened at $262.61 on Friday. The stock has a market capitalization of $32.83 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The company has a 50 day moving average price of $259.72 and a two-hundred day moving average price of $319.30.

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

Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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.