Whittier Trust Co. Reduces Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Whittier Trust Co. cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 11.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 850 shares of the apparel retailer’s stock after selling 110 shares during the period. Whittier Trust Co.’s holdings in Lululemon Athletica were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at $12,976,000. Choreo LLC increased its position in Lululemon Athletica by 24.5% in the 4th quarter. Choreo LLC now owns 803 shares of the apparel retailer’s stock valued at $411,000 after acquiring an additional 158 shares during the period. Van ECK Associates Corp raised its stake in shares of Lululemon Athletica by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 35,102 shares of the apparel retailer’s stock worth $17,947,000 after purchasing an additional 2,473 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Lululemon Athletica by 5.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,258 shares of the apparel retailer’s stock valued at $2,177,000 after acquiring an additional 225 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in Lululemon Athletica by 13.5% in the fourth quarter. Brighton Jones LLC now owns 731 shares of the apparel retailer’s stock valued at $374,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $463.00 to $286.00 in a report on Friday, August 2nd. UBS Group cut their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $357.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 13th. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Finally, Raymond James decreased their price target on shares of Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.26.

Lululemon Athletica Stock Up 0.1 %

Shares of NASDAQ:LULU opened at $259.01 on Friday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market cap of $32.38 billion, a P/E ratio of 20.77, a PEG ratio of 1.25 and a beta of 1.26. The business has a fifty day moving average of $273.65 and a two-hundred day moving average of $341.85.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.23. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $2.68 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.22 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Lululemon Athletica Company Profile

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.