Insider Buying: Lululemon Athletica Inc. (NASDAQ:LULU) CEO Purchases $1,040,000.00 in Stock

Lululemon Athletica Inc. (NASDAQ:LULU) CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Lululemon Athletica Stock Up 0.1 %

Shares of LULU stock opened at $253.84 on Friday. The firm has a market capitalization of $31.73 billion, a PE ratio of 20.36, a P/E/G ratio of 1.40 and a beta of 1.25. The company has a 50 day moving average price of $266.51 and a 200-day moving average price of $332.15. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $2.68 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Lululemon Athletica Inc. will post 13.9 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a stock 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 repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have commented on LULU. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. UBS Group reduced their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. TD Securities increased their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Morgan Stanley dropped their target price on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a report on Sunday, September 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Institutional Trading of Lululemon Athletica

Hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of Lululemon Athletica by 736.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,898 shares of the apparel retailer’s stock valued at $970,000 after buying an additional 1,671 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in Lululemon Athletica by 75.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 988 shares of the apparel retailer’s stock worth $505,000 after acquiring an additional 426 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $357,000. Private Advisor Group LLC lifted its holdings in Lululemon Athletica by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 7,769 shares of the apparel retailer’s stock valued at $3,972,000 after purchasing an additional 165 shares in the last quarter. Finally, Lincoln National Corp boosted its position in shares of Lululemon Athletica by 19.0% in the fourth quarter. Lincoln National Corp now owns 1,507 shares of the apparel retailer’s stock worth $771,000 after purchasing an additional 241 shares during the period. Institutional investors own 85.20% of the company’s stock.

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.