Axxcess Wealth Management LLC Acquires 504 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Axxcess Wealth Management LLC raised its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 52.3% in the 2nd quarter, Holdings Channel reports. The firm owned 1,467 shares of the apparel retailer’s stock after purchasing an additional 504 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lululemon Athletica were worth $438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LULU. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Benjamin Edwards Inc. raised its holdings in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Lululemon Athletica in the first quarter valued at about $29,000. Finally, Larson Financial Group LLC raised its holdings in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $262.61 on Friday. The business has a fifty day moving average price of $259.72 and a 200 day moving average price of $319.30. The company has a market cap of $32.83 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its 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. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 EPS. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on LULU shares. Jefferies Financial Group reiterated an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a report on Thursday, July 25th. Stifel Nicolaus dropped their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $425.00 in a research note on Thursday, June 6th. BMO Capital Markets dropped their price target on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, Oppenheimer restated an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

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.