Rathbones Group PLC Has $3.11 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Rathbones Group PLC lessened its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,421 shares of the apparel retailer’s stock after selling 1,204 shares during the quarter. Rathbones Group PLC’s holdings in Lululemon Athletica were worth $3,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. Diversify Wealth Management LLC acquired a new position in Lululemon Athletica in the 2nd quarter worth $2,401,000. J.W. Cole Advisors Inc. boosted its position in shares of Lululemon Athletica by 29.6% during the second quarter. J.W. Cole Advisors Inc. now owns 1,394 shares of the apparel retailer’s stock worth $416,000 after buying an additional 318 shares during the period. OV Management LLC bought a new position in shares of Lululemon Athletica during the second quarter worth about $1,553,000. Thoroughbred Financial Services LLC grew its holdings in shares of Lululemon Athletica by 23.6% during the second quarter. Thoroughbred Financial Services LLC now owns 1,158 shares of the apparel retailer’s stock worth $345,000 after buying an additional 221 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Lululemon Athletica by 29.4% in the 2nd quarter. Parallel Advisors LLC now owns 5,155 shares of the apparel retailer’s stock valued at $1,540,000 after buying an additional 1,172 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a research note on Sunday, September 1st. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Sanford C. Bernstein cut their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $266.76 on Monday. The firm has a market cap of $33.35 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The firm’s 50-day simple moving average is $262.01 and its 200 day simple moving average is $324.07.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price 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 directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

About Lululemon Athletica

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.