Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Csenge Advisory Group

Csenge Advisory Group lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 24.6% in the first quarter, HoldingsChannel reports. The firm owned 918 shares of the apparel retailer’s stock after selling 299 shares during the quarter. Csenge Advisory Group’s holdings in Lululemon Athletica were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Southern Capital Advisors LLC bought a new position in Lululemon Athletica in the 1st quarter worth about $1,641,000. Mediolanum International Funds Ltd bought a new position in Lululemon Athletica in the 1st quarter worth approximately $14,979,000. Commerce Bank increased its position in Lululemon Athletica by 11.9% in the 1st quarter. Commerce Bank now owns 15,765 shares of the apparel retailer’s stock valued at $6,159,000 after acquiring an additional 1,674 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in Lululemon Athletica by 115.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,794 shares of the apparel retailer’s stock valued at $7,342,000 after acquiring an additional 10,057 shares in the last quarter. Finally, United Community Bank acquired a new position in Lululemon Athletica during the 1st quarter worth $119,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Up 0.4 %

NASDAQ LULU opened at $289.20 on Friday. The stock has a market capitalization of $36.15 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. Lululemon Athletica Inc. has a 12-month low of $283.49 and a 12-month high of $516.39. The company has a 50 day moving average price of $315.43 and a two-hundred day moving average price of $395.27.

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

Lululemon Athletica declared that its Board of Directors has approved a share buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LULU shares. Jefferies Financial Group cut their price objective on shares of Lululemon Athletica from $240.00 to $220.00 and set an “underperform” rating on the stock in a research note on Wednesday. Truist Financial dropped their price target on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Needham & Company LLC decreased their price objective on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Stifel Nicolaus boosted their target price on Lululemon Athletica from $410.00 to $416.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, KeyCorp decreased their price target on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $431.29.

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.