Nisa Investment Advisors LLC Has $3.70 Million Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Nisa Investment Advisors LLC grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,382 shares of the apparel retailer’s stock after buying an additional 886 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lululemon Athletica were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LULU. Sheaff Brock Investment Advisors LLC acquired a new position in Lululemon Athletica during the 4th quarter worth about $1,114,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Lululemon Athletica by 202.8% in the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LULU. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their target price for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Wedbush boosted their price objective on Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Citigroup lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their target price for the company from $415.00 to $300.00 in a research note on Thursday, July 25th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $425.00 in a research note on Thursday, June 6th. Finally, Morgan Stanley reduced their price objective on shares of 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $402.00.

Lululemon Athletica Stock Up 0.6 %

NASDAQ LULU opened at $260.60 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm’s 50 day moving average is $278.91 and its 200-day moving average is $349.29. The company has a market capitalization of $32.58 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

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, beating 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 previous year, the business earned $2.28 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its board has authorized a share buyback plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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.