Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Quest Partners LLC

Quest Partners LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 145.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,679 shares of the apparel retailer’s stock after purchasing an additional 995 shares during the quarter. Quest Partners LLC’s holdings in Lululemon Athletica were worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LULU. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica during the fourth quarter worth about $26,000. Benjamin Edwards Inc. boosted its holdings in Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica in the 1st quarter valued at approximately $29,000. Finally, Larson Financial Group LLC increased its holdings in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays decreased their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. TD Cowen cut their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. UBS Group cut their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. TD Securities increased their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets lowered their price objective on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by company insiders.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $260.14 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The stock has a market cap of $32.52 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.37 and a beta of 1.25. The stock has a 50-day simple moving average of $262.64 and a 200-day simple moving average of $327.44.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its board has initiated a share repurchase 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 buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is 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.