Lake Street Financial LLC lowered its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 8.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,326 shares of the apparel retailer’s stock after selling 204 shares during the quarter. Lake Street Financial LLC’s holdings in Lululemon Athletica were worth $850,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Lululemon Athletica by 10.7% during the 1st quarter. Lindbrook Capital LLC now owns 268 shares of the apparel retailer’s stock worth $98,000 after acquiring an additional 26 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of Lululemon Athletica by 3.7% in the 1st quarter. Clearstead Advisors LLC now owns 838 shares of the apparel retailer’s stock valued at $306,000 after buying an additional 30 shares during the period. Avondale Wealth Management lifted its holdings in shares of Lululemon Athletica by 4.2% in the 1st quarter. Avondale Wealth Management now owns 891 shares of the apparel retailer’s stock valued at $325,000 after buying an additional 36 shares during the period. Boenning & Scattergood Inc. lifted its holdings in shares of Lululemon Athletica by 3.3% in the 1st quarter. Boenning & Scattergood Inc. now owns 1,130 shares of the apparel retailer’s stock valued at $413,000 after buying an additional 36 shares during the period. Finally, B. Riley Wealth Management Inc. lifted its holdings in shares of Lululemon Athletica by 3.0% in the 4th quarter. B. Riley Wealth Management Inc. now owns 1,263 shares of the apparel retailer’s stock valued at $494,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 85.48% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on LULU. Morgan Stanley boosted their price objective on Lululemon Athletica from $303.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, June 16th. Truist Financial raised Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price objective for the company from $390.00 to $495.00 in a report on Tuesday, April 19th. Credit Suisse Group reduced their price target on Lululemon Athletica from $450.00 to $410.00 and set an “outperform” rating for the company in a report on Friday, June 3rd. KeyCorp started coverage on Lululemon Athletica in a report on Wednesday, July 20th. They issued an “overweight” rating and a $350.00 price target for the company. Finally, B. Riley reduced their price target on Lululemon Athletica from $440.00 to $377.00 and set a “buy” rating for the company in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $402.61.
Lululemon Athletica Stock Performance
Lululemon Athletica (NASDAQ:LULU – Get Rating) last released 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 return on equity of 39.23% and a net margin of 15.36%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 9.44 earnings per share for the current fiscal year.
In related news, Director Kourtney Gibson acquired 200 shares of Lululemon Athletica stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average cost of $280.12 per share, for a total transaction of $56,024.00. Following the completion of the purchase, the director now owns 1,302 shares in the company, valued at $364,716.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.
Lululemon Athletica Company Profile
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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