Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 115,761 shares of the apparel retailer’s stock after selling 1,344 shares during the quarter. Raymond James & Associates’ holdings in Lululemon Athletica were worth $59,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Union Savings Bank acquired a new position in Lululemon Athletica in the second quarter valued at $25,000. Milestone Investment Advisors LLC acquired a new position in Lululemon Athletica in the third quarter valued at $27,000. Bogart Wealth LLC increased its stake in Lululemon Athletica by 270.0% in the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Founders Capital Management acquired a new position in Lululemon Athletica in the third quarter valued at $39,000. Finally, PCA Investment Advisory Services Inc. acquired a new position in Lululemon Athletica in the second quarter valued at $43,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Trading Up 0.9 %

Shares of Lululemon Athletica stock opened at $389.46 on Thursday. The business’s 50 day simple moving average is $459.59 and its 200-day simple moving average is $442.32. The stock has a market capitalization of $49.15 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.37 and a beta of 1.33. Lululemon Athletica Inc. has a twelve month low of $314.22 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.40 EPS. Sell-side analysts predict that Lululemon Athletica Inc. will post 14.24 earnings per share for the current year.

Lululemon Athletica announced that its board has approved a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LULU shares. Piper Sandler lowered their price target on Lululemon Athletica from $560.00 to $525.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Bank of America boosted their price target on Lululemon Athletica from $450.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, December 8th. HSBC downgraded Lululemon Athletica from a “buy” rating to a “hold” rating and set a $500.00 target price for the company. in a research report on Monday, January 22nd. Raymond James upped their target price on Lululemon Athletica from $495.00 to $520.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $493.66.

Read Our Latest Report on LULU

Lululemon Athletica Company Profile

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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