Symmetry Investments LP Boosts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Symmetry Investments LP grew its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 89.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,284 shares of the apparel retailer’s stock after buying an additional 3,900 shares during the quarter. Symmetry Investments LP’s holdings in Lululemon Athletica were worth $2,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidemark LLC bought a new position in Lululemon Athletica during the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in Lululemon Athletica in the fourth quarter worth about $31,000. True Wealth Design LLC increased its holdings in Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 59 shares during the last quarter. Finally, Benjamin Edwards Inc. raised 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 in the last quarter. Institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value 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 $23,379,720. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LULU shares. Truist Financial reiterated a “buy” rating and issued a $310.00 target price on shares of Lululemon Athletica in a research report on Wednesday, August 28th. BMO Capital Markets reduced their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Wedbush lowered their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Robert W. Baird reduced their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Trading Down 3.0 %

NASDAQ:LULU opened at $262.61 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.38 and a beta of 1.25. The business’s fifty day moving average price is $259.72 and its 200 day moving average price is $319.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.