NorthCrest Asset Manangement LLC acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,050 shares of the apparel retailer’s stock, valued at approximately $383,000.
A number of other hedge funds have also made changes to their positions in LULU. Benjamin Edwards Inc. boosted its stake in Lululemon Athletica by 192.0% in the fourth quarter. Benjamin Edwards Inc. Now owns 73 shares of the apparel retailer’s stock shares valued at $29,000 after acquiring an additional 48 during the last quarter. Cornerstone Advisory LLC bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $30,000. DeDora Capital Inc. bought a new position in shares of Lululemon Athletica during the first quarter worth $30,000. Byrne Asset Management LLC boosted its position in shares of Lululemon Athletica by 66.7% during the first quarter. Byrne Asset Management LLC now owns 100 shares of the apparel retailer’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Column Capital Advisors LLC boosted its position in shares of Lululemon Athletica by 78.2% during the fourth quarter. Column Capital Advisors LLC now owns 98 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 43 shares in the last quarter. 85.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Lululemon Athletica from $400.00 to $345.00 and set a “neutral” rating on the stock in a research report on Friday, June 3rd. Barclays reduced their price target on shares of Lululemon Athletica from $450.00 to $435.00 and set an “overweight” rating on the stock in a research report on Monday, June 6th. Cowen reduced their price target on shares of Lululemon Athletica from $507.00 to $497.00 in a research report on Thursday, April 21st. BTIG Research reduced their price target on shares of Lululemon Athletica from $491.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, June 3rd. Finally, Morgan Stanley raised their objective price on shares of Lululemon Athletica from $303.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, June 16th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.88.
Shares of LULU opened at $282.98 on Thursday. The firm has a 50-day moving average of $304.16 and a 200-day moving average of $330.46. Lululemon Athletica Inc. has a one year low of $251.51 and a one year high of $485.83. The company has a market cap of $36.12 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.
Lululemon Athletica (NASDAQ:LULU – Get Rating) last announced its quarterly earnings data on Thursday, June 2nd. The apparel retailer reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Lululemon Athletica had a net margin of 15.36% and a return on equity of 39.23%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, analysts expect that Lululemon Athletica Inc. will post 9.47 earnings per share for the current year.
Lululemon Athletica announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other news, Director Kourtney Gibson acquired 200 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $280.12 per share, with a total value of $56,024.00. Following the transaction, the director now directly owns 1,302 shares in the company, valued at approximately $364,716.24. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.
Lululemon Athletica Profile (Get Rating)
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.
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