GM Advisory Group LLC Has $599,000 Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

GM Advisory Group LLC grew its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,007 shares of the apparel retailer’s stock after buying an additional 65 shares during the period. GM Advisory Group LLC’s holdings in Lululemon Athletica were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. Wealth Advisors of Tampa Bay LLC lifted its position in Lululemon Athletica by 19.6% in the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 3,237 shares of the apparel retailer’s stock valued at $967,000 after acquiring an additional 530 shares in the last quarter. Intech Investment Management LLC lifted its position in Lululemon Athletica by 865.2% in the 2nd quarter. Intech Investment Management LLC now owns 58,143 shares of the apparel retailer’s stock valued at $17,367,000 after acquiring an additional 52,119 shares in the last quarter. XTX Topco Ltd lifted its position in Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares in the last quarter. Seven Eight Capital LP bought a new stake in Lululemon Athletica in the 2nd quarter valued at $3,546,000. Finally, Gardner Lewis Asset Management L P lifted its position in Lululemon Athletica by 13.6% in the 2nd quarter. Gardner Lewis Asset Management L P now owns 11,637 shares of the apparel retailer’s stock valued at $3,476,000 after acquiring an additional 1,395 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Citigroup cut their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Sanford C. Bernstein cut their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Performance

Shares of LULU opened at $270.76 on Friday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The firm has a market cap of $33.85 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The firm’s 50-day simple moving average is $260.28 and its 200 day simple moving average is $320.61.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly 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 analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $2.68 EPS. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a share buyback 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 buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.