Headlands Technologies LLC Invests $798,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Headlands Technologies LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the second quarter, Holdings Channel.com reports. The fund bought 2,671 shares of the apparel retailer’s stock, valued at approximately $798,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $26,000. Benjamin Edwards Inc. grew its stake in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares during the last quarter. Riverview Trust Co acquired a new position in Lululemon Athletica during the first quarter worth approximately $29,000. Finally, Larson Financial Group LLC lifted its stake in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LULU has been the topic of a number of recent research reports. Telsey Advisory Group cut their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Stifel Nicolaus reduced their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. TD Securities upped their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Morgan Stanley lowered their target price on Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating on the stock in a research note on Sunday, September 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $255.20 on Thursday. The firm has a market capitalization of $31.90 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock’s fifty day moving average is $263.45 and its two-hundred day moving average is $327.92.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $2.68 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.