Gordian Capital Singapore Pte Ltd Lowers Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Gordian Capital Singapore Pte Ltd trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,360 shares of the apparel retailer’s stock after selling 101 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Lululemon Athletica were worth $705,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LULU. KPP Advisory Services LLC acquired a new stake in shares of Lululemon Athletica during the second quarter worth $517,000. Teachers Retirement System of The State of Kentucky lifted its stake in Lululemon Athletica by 8.5% in 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 position in Lululemon Athletica by 285.9% in the 2nd quarter. Quarry LP now owns 355 shares of the apparel retailer’s stock valued at $106,000 after acquiring an additional 263 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Lululemon Athletica by 9.0% in 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 during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Lululemon Athletica by 6.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,306 shares of the apparel retailer’s stock valued at $2,481,000 after purchasing an additional 468 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Down 1.8 %

Lululemon Athletica stock opened at $266.45 on Wednesday. The firm has a market cap of $33.31 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.40 and a beta of 1.25. The business has a fifty day moving average of $257.11 and a two-hundred day moving average of $307.84. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released 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 return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business posted $2.68 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LULU. Morgan Stanley lowered their price target on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a report on Tuesday. KeyCorp decreased their price target 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. HSBC raised Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Piper Sandler upped their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Lululemon Athletica in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The disclosure for this purchase can be found here. 0.48% of the stock is 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.