Avalon Global Asset Management LLC Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Avalon Global Asset Management LLC boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 26.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,070 shares of the apparel retailer’s stock after acquiring an additional 5,100 shares during the quarter. Lululemon Athletica comprises about 1.6% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Avalon Global Asset Management LLC’s holdings in Lululemon Athletica were worth $7,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its stake 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 buying an additional 29 shares during the last quarter. Congress Wealth Management LLC DE grew its stake in shares of 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 grew its stake in shares of Lululemon Athletica by 5.1% during the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after buying an additional 34 shares during the last quarter. William Allan Corp grew its stake in shares of Lululemon Athletica by 0.8% during the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after buying an additional 37 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake 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 buying an additional 38 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lowered their price target on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Wedbush lowered their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Telsey Advisory Group lowered their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Stifel Nicolaus lowered their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two 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 MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $354.94.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought 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 approximately $23,379,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Stock Down 3.0 %

Shares of Lululemon Athletica stock opened at $262.61 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The business has a 50-day moving average price of $259.72 and a 200 day moving average price of $319.30. The firm has a market cap of $32.83 billion, a PE ratio of 21.06, a P/E/G ratio of 1.38 and a beta of 1.25.

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, 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 company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $2.68 EPS. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often 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.