Lululemon Athletica Inc. (NASDAQ:LULU) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lifted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 23.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,158 shares of the apparel retailer’s stock after acquiring an additional 221 shares during the period. Thoroughbred Financial Services LLC’s holdings in Lululemon Athletica were worth $345,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LULU. Wells Fargo & Company reduced their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. The Goldman Sachs Group downgraded 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. TD Cowen cut their price target on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price objective 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. Finally, TD Securities increased their target price on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Down 0.5 %

NASDAQ:LULU opened at $265.30 on Tuesday. The business’s 50-day moving average price is $261.44 and its 200 day moving average price is $322.65. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The firm has a market cap of $33.16 billion, a P/E ratio of 21.28, a PEG ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Lululemon Athletica

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

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.