SteelPeak Wealth LLC Boosts Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

SteelPeak Wealth LLC boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 17.8% during the first quarter, HoldingsChannel.com reports. The firm owned 1,944 shares of the apparel retailer’s stock after acquiring an additional 294 shares during the period. SteelPeak Wealth LLC’s holdings in Lululemon Athletica were worth $759,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the period. Morgan Stanley raised its stake in shares of Lululemon Athletica by 29.2% in the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after acquiring an additional 437,069 shares during the period. Schroder Investment Management Group raised its stake in shares of Lululemon Athletica by 20.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after acquiring an additional 310,347 shares during the period. Capital World Investors raised its stake in shares of Lululemon Athletica by 0.9% in the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after acquiring an additional 14,112 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Lululemon Athletica by 11.1% in the 3rd quarter. American Century Companies Inc. now owns 1,373,814 shares of the apparel retailer’s stock valued at $529,756,000 after acquiring an additional 137,454 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU traded down $9.60 during midday trading on Friday, hitting $298.70. The company’s stock had a trading volume of 3,496,845 shares, compared to its average volume of 2,852,565. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39. The firm’s fifty day moving average price is $327.07 and its 200-day moving average price is $406.83. The firm has a market cap of $37.34 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.49 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $2.28 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict 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 plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Lululemon Athletica from $410.00 to $416.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. TD Securities dropped their price target on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Guggenheim dropped their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Bank of America lifted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Truist Financial dropped their price target on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $433.06.

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.