Gateway Investment Advisers LLC Sells 9,469 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Gateway Investment Advisers LLC cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 23.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,632 shares of the apparel retailer’s stock after selling 9,469 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lululemon Athletica were worth $12,357,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Valley National Advisers Inc. increased its holdings in shares of 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 purchasing an additional 42 shares during the last quarter. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC bought a new stake in Lululemon Athletica during the fourth quarter worth approximately $31,000. Finally, True Wealth Design LLC increased its stake 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 during the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Trading Down 1.0 %

Shares of LULU stock opened at $309.07 on Wednesday. The business’s fifty day simple moving average is $329.73 and its 200-day simple moving average is $411.05. The company has a market cap of $38.63 billion, a PE ratio of 24.79, a PEG ratio of 1.55 and a beta of 1.27. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. On average, equities analysts forecast that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

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

Analyst Ratings Changes

Several brokerages have weighed in on LULU. Barclays reduced their price objective on Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. TD Cowen boosted their price objective on Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. reduced their price objective on Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Wedbush boosted their price objective on Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Finally, Guggenheim dropped their target price on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $433.06.

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.