Lululemon Athletica Inc. (NASDAQ:LULU) Shares Purchased by Shorepath Capital Management LLC

Shorepath Capital Management LLC boosted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,318 shares of the apparel retailer’s stock after buying an additional 1,008 shares during the period. Lululemon Athletica makes up 2.3% of Shorepath Capital Management LLC’s holdings, making the stock its 19th largest position. Shorepath Capital Management LLC’s holdings in Lululemon Athletica were worth $2,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Valley National Advisers Inc. raised its stake in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Tidemark LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in Lululemon Athletica in the 1st quarter worth approximately $29,000. Finally, Morton Brown Family Wealth LLC purchased a new position in Lululemon Athletica during the 4th quarter worth approximately $31,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. UBS Group cut their target price on Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. TD Cowen raised their price objective on shares of Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Robert W. Baird cut their target price on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $433.06.

Lululemon Athletica Trading Down 1.0 %

LULU stock traded down $3.04 during trading on Wednesday, hitting $306.03. 564,467 shares of the company’s stock were exchanged, compared to its average volume of 2,065,911. The business has a 50-day moving average price of $329.73 and a two-hundred day moving average price of $411.05. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.54 and a beta of 1.27. Lululemon Athletica Inc. has a 52-week low of $293.03 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. On average, equities research analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal 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.

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.