Mackenzie Financial Corp Buys 1,314 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Mackenzie Financial Corp raised its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,841 shares of the apparel retailer’s stock after buying an additional 1,314 shares during the quarter. Mackenzie Financial Corp’s holdings in Lululemon Athletica were worth $3,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Scarborough Advisors LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Benjamin Edwards Inc. grew its holdings in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares during the period. Riverview Trust Co bought a new stake in shares of Lululemon Athletica in the 1st quarter valued at $29,000. Larson Financial Group LLC raised its stake in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares in the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU opened at $266.45 on Wednesday. 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 $257.11 and its 200 day simple moving average is $307.84. The firm has a market cap of $33.31 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business 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 company posted $2.68 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

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

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LULU. HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $425.00 in a report on Thursday, June 6th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Robert W. Baird reduced their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Lululemon Athletica in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica 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.