Lighthouse Investment Partners LLC Increases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Lighthouse Investment Partners LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 470.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,136 shares of the apparel retailer’s stock after buying an additional 2,586 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Lululemon Athletica were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LULU. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth about $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 during the last quarter. Riverview Trust Co purchased a new position in Lululemon Athletica during the 1st quarter valued at approximately $29,000. Larson Financial Group LLC increased its stake in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 4.2 %

Shares of NASDAQ:LULU opened at $280.01 on Friday. The company has a market capitalization of $34.38 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock’s fifty day simple moving average is $257.68 and its 200-day simple moving average is $311.72.

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

Lululemon Athletica declared that its board has authorized a share 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 purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim dropped their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Telsey Advisory Group dropped their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Truist Financial restated a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their price objective on 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, Stifel Nicolaus decreased their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction dated 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 directly owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

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.