Brookstone Capital Management Increases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Brookstone Capital Management raised its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 202.8% during the first quarter, Holdings Channel.com reports. The firm owned 1,714 shares of the apparel retailer’s stock after purchasing an additional 1,148 shares during the quarter. Brookstone Capital Management’s holdings in Lululemon Athletica were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Shorepath Capital Management LLC boosted its holdings in Lululemon Athletica by 16.0% in the 1st quarter. Shorepath Capital Management LLC now owns 7,318 shares of the apparel retailer’s stock valued at $2,859,000 after purchasing an additional 1,008 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica during the 1st quarter worth approximately $29,000. Harbor Investment Advisory LLC boosted its stake in shares of Lululemon Athletica by 98.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 5,492 shares of the apparel retailer’s stock worth $2,145,000 after acquiring an additional 2,722 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Lululemon Athletica by 129.3% during the 1st quarter. AdvisorNet Financial Inc now owns 337 shares of the apparel retailer’s stock worth $132,000 after acquiring an additional 190 shares in the last quarter. Finally, Royal Fund Management LLC boosted its stake in shares of Lululemon Athletica by 4.8% during the 1st quarter. Royal Fund Management LLC now owns 4,240 shares of the apparel retailer’s stock worth $1,656,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $298.70 on Monday. The business’s 50-day moving average is $327.07 and its two-hundred day moving average is $406.83. Lululemon Athletica Inc. has a 12 month low of $293.03 and a 12 month high of $516.39. The firm has a market capitalization of $37.34 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $2.28 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on LULU. BTIG Research began coverage on Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 price target on the stock. Sanford C. Bernstein boosted their price target on Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research note on Friday, June 7th. Truist Financial reduced their target price on Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. JPMorgan Chase & Co. reduced their target price 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. Finally, Morgan Stanley reduced their target price on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $433.06.

About Lululemon Athletica

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.