Evergreen Capital Management LLC Raises Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Evergreen Capital Management LLC increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 25.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,437 shares of the apparel retailer’s stock after purchasing an additional 5,649 shares during the quarter. Evergreen Capital Management LLC’s holdings in Lululemon Athletica were worth $8,195,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after buying an additional 3,721 shares during the period. XTX Topco Ltd lifted its position in Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after buying an additional 6,562 shares during the period. Brookstone Capital Management boosted its position in shares of Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after acquiring an additional 1,148 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after buying an additional 3,077 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Lululemon Athletica by 6.0% in the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $262.61 on Monday. The firm has a 50 day simple moving average of $259.72 and a 200 day simple moving average of $317.50. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The company has a market cap of $32.83 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 earnings per share. On average, equities analysts predict 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 buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

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

Analyst Upgrades and Downgrades

LULU has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a research note on Sunday, September 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. TD Cowen reduced their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. KeyCorp cut their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $354.94.

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.