NCP Inc. Sells 600 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

NCP Inc. trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 50.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600 shares of the apparel retailer’s stock after selling 600 shares during the quarter. NCP Inc.’s holdings in Lululemon Athletica were worth $179,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brown Financial Advisors bought a new position in shares of Lululemon Athletica during the 2nd quarter valued at about $260,000. KPP Advisory Services LLC bought a new position in Lululemon Athletica during the second quarter valued at approximately $517,000. Teachers Retirement System of The State of Kentucky boosted its stake in Lululemon Athletica by 8.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 24,492 shares of the apparel retailer’s stock valued at $7,315,000 after buying an additional 1,918 shares during the last quarter. Quarry LP increased its stake in Lululemon Athletica by 285.9% in the 2nd quarter. Quarry LP now owns 355 shares of the apparel retailer’s stock worth $106,000 after acquiring an additional 263 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Lululemon Athletica by 9.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 908 shares of the apparel retailer’s stock worth $271,000 after acquiring an additional 75 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Trading Down 1.8 %

LULU opened at $266.45 on Wednesday. The business’s fifty day simple moving average is $257.11 and its 200-day simple moving average is $307.84. The company has a market capitalization of $33.31 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.40 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.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $2.68 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its board has approved a share buyback plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LULU. Truist Financial restated a “buy” rating and issued a $310.00 price target on shares of Lululemon Athletica in a research report on Wednesday, August 28th. Telsey Advisory Group reduced their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Finally, HSBC raised Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.55.

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.