Quarry LP Buys 263 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Quarry LP increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 285.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355 shares of the apparel retailer’s stock after buying an additional 263 shares during the quarter. Quarry LP’s holdings in Lululemon Athletica were worth $106,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Benjamin Edwards Inc. increased its position 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 worth $27,000 after purchasing an additional 44 shares in the last quarter. Riverview Trust Co bought a new position in Lululemon Athletica during the 1st quarter valued at about $29,000. Larson Financial Group LLC boosted its position 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 in the last quarter. Finally, True Wealth Design LLC grew its stake in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 1.8 %

Shares of Lululemon Athletica stock opened at $266.45 on Wednesday. The company has a market cap of $33.31 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The company has a 50 day moving average of $257.11 and a 200-day moving average of $307.84. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

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

Lululemon Athletica declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows 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 of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on LULU shares. Raymond James reduced their target price on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, September 2nd. Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company lowered their target price on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Citigroup cut their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, TD Cowen decreased their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.55.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica 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.