KPP Advisory Services LLC Makes New $517,000 Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

KPP Advisory Services LLC bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,732 shares of the apparel retailer’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Lululemon Athletica in the 4th quarter valued at $26,000. Richardson Financial Services Inc. bought a new position in Lululemon Athletica during the fourth quarter valued at about $31,000. True Wealth Design LLC grew its position 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 valued at $31,000 after buying an additional 59 shares during the period. Benjamin Edwards Inc. increased its holdings in Lululemon Athletica by 176.0% during the first 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. Finally, Riverview Trust Co bought a new stake in Lululemon Athletica in the first quarter worth about $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $266.45 on Wednesday. The company’s fifty day moving average price is $257.11 and its 200-day moving average price is $307.84. The firm has a market capitalization of $33.31 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 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 business 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 firm earned $2.68 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LULU. Raymond James decreased their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Stifel Nicolaus decreased their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.55.

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.