Benjamin F. Edwards & Company Inc. Increases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the apparel retailer’s stock after purchasing an additional 389 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Lululemon Athletica were worth $901,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its holdings in Lululemon Athletica by 31.8% in the 2nd 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 in the last quarter. XTX Topco Ltd increased its stake in shares of Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares in the last quarter. Brookstone Capital Management raised its position in shares of Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after purchasing an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after buying an additional 3,077 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Lululemon Athletica by 6.0% in the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after buying an additional 319 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LULU has been the topic of a number of research analyst reports. Bank of America lowered their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. dropped 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. Truist Financial reissued a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Finally, Guggenheim dropped their price target on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, August 30th. 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 stock. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The shares were acquired 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 of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Lululemon Athletica Stock Down 1.1 %

Shares of LULU opened at $259.80 on Tuesday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a market cap of $32.48 billion, a P/E ratio of 20.83, a PEG ratio of 1.38 and a beta of 1.25. The firm’s 50 day moving average price is $259.24 and its 200 day moving average price is $316.11.

Lululemon Athletica (NASDAQ:LULU) last announced 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. 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 analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.