Lululemon Athletica Inc. (NASDAQ:LULU) Director Acquires $272,503.00 in Stock

Lululemon Athletica Inc. (NASDAQ:LULUGet Free Report) Director Martha A. M. Morfitt purchased 700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lululemon Athletica Trading Up 0.3 %

LULU stock opened at $390.65 on Friday. The company’s 50 day moving average is $456.28 and its 200 day moving average is $441.60. The stock has a market cap of $49.30 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.40 earnings per share. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 1.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LULU. Telsey Advisory Group reissued an “outperform” rating and issued a $550.00 price target on shares of Lululemon Athletica in a report on Friday, March 22nd. Bank of America upped their price objective on shares of Lululemon Athletica from $450.00 to $520.00 and gave the company a “buy” rating in a report on Friday, December 8th. Guggenheim dropped their price objective on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Truist Financial dropped their price objective on shares of Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Finally, KeyCorp dropped their price objective on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $496.29.

Get Our Latest Stock Report on LULU

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Union Savings Bank purchased a new stake in Lululemon Athletica in the second quarter worth approximately $25,000. Valley National Advisers Inc. boosted its stake in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Tidemark LLC purchased a new stake in Lululemon Athletica in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica in the fourth quarter worth approximately $26,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Lululemon Athletica in the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

(Get 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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