Cullinan Associates Inc. Sells 1,521 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Cullinan Associates Inc. decreased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,800 shares of the apparel retailer’s stock after selling 1,521 shares during the quarter. Cullinan Associates Inc.’s holdings in Lululemon Athletica were worth $1,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at about $1,114,000. Rockline Wealth Management LLC bought a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $1,503,000. Advisory Services Network LLC boosted its position in shares of Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after purchasing an additional 319 shares in the last quarter. HB Wealth Management LLC grew its stake in Lululemon Athletica by 10.9% in the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock worth $871,000 after purchasing an additional 168 shares during the period. Finally, Brookstone Capital Management raised its holdings in Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after purchasing an additional 1,148 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

LULU opened at $301.67 on Wednesday. The firm has a market cap of $37.71 billion, a P/E ratio of 24.19, a PEG ratio of 1.49 and a beta of 1.26. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39. The company has a 50 day simple moving average of $325.88 and a two-hundred day simple moving average of $405.51.

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. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted $2.28 EPS. Lululemon Athletica’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a stock buyback program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LULU. The Goldman Sachs Group decreased their price target on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Barclays cut their price target 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $357.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 13th. Piper Sandler cut their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Finally, KeyCorp lowered their price target on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.