Axxcess Wealth Management LLC Boosts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Axxcess Wealth Management LLC grew its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 52.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,467 shares of the apparel retailer’s stock after purchasing an additional 504 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lululemon Athletica were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LULU. Tidemark LLC bought a new position in Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Benjamin Edwards Inc. boosted its position in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares during the period. Riverview Trust Co bought a new position in shares of Lululemon Athletica in the first quarter valued at approximately $29,000. Finally, Larson Financial Group LLC boosted its position in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 3.0 %

Lululemon Athletica stock opened at $262.61 on Friday. The firm has a 50 day moving average of $259.72 and a 200 day moving average of $319.30. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.38 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 quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has approved a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James dropped their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. KeyCorp dropped their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. TD Cowen decreased their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Telsey Advisory Group decreased their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica 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.