Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 5.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,362 shares of the apparel retailer’s stock after purchasing an additional 70 shares during the period. SeaCrest Wealth Management LLC’s holdings in Lululemon Athletica were worth $532,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Valley National Advisers Inc. raised its position 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 acquiring an additional 42 shares during the period. Tidemark LLC purchased a new position in Lululemon Athletica during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica during the fourth quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Lululemon Athletica in the first quarter valued at approximately $29,000. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Bank of America boosted their target price on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Sanford C. Bernstein upped their price target on shares of Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. TD Securities lowered their price objective on Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, Piper Sandler reduced their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.94.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $301.67 on Wednesday. The stock has a market capitalization of $37.71 billion, a P/E ratio of 24.19, a PEG ratio of 1.49 and a beta of 1.26. The firm’s 50-day moving average is $325.88 and its two-hundred day moving average is $405.51. 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 data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $2.28 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

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

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.