RBA Wealth Management LLC Has $3.64 Million Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

RBA Wealth Management LLC grew its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 4.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,315 shares of the apparel retailer’s stock after buying an additional 358 shares during the quarter. RBA Wealth Management LLC’s holdings in Lululemon Athletica were worth $3,639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LULU. First Trust Direct Indexing L.P. increased its position in Lululemon Athletica by 16.5% in the first quarter. First Trust Direct Indexing L.P. now owns 1,882 shares of the apparel retailer’s stock worth $735,000 after purchasing an additional 267 shares during the period. Norden Group LLC acquired a new stake in Lululemon Athletica in the first quarter worth about $2,412,000. Valeo Financial Advisors LLC increased its position in Lululemon Athletica by 110.0% in the first quarter. Valeo Financial Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $1,415,000 after purchasing an additional 1,898 shares during the period. Azzad Asset Management Inc. ADV increased its position in Lululemon Athletica by 0.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 10,005 shares of the apparel retailer’s stock worth $3,909,000 after purchasing an additional 87 shares during the period. Finally, SeaCrest Wealth Management LLC increased its position in Lululemon Athletica by 5.4% in the first quarter. SeaCrest Wealth Management LLC now owns 1,362 shares of the apparel retailer’s stock worth $532,000 after purchasing an additional 70 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LULU. UBS Group reduced their target price on Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Morgan Stanley reduced their target price on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Truist Financial cut their price objective on Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. The Goldman Sachs Group cut their price objective on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Wells Fargo & Company cut their price objective on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $431.94.

Lululemon Athletica Stock Down 0.4 %

Shares of LULU stock traded down $1.35 during trading on Thursday, reaching $300.32. 952,001 shares of the company’s stock were exchanged, compared to its average volume of 2,749,957. The stock has a market capitalization of $37.54 billion, a PE ratio of 24.08, a PEG ratio of 1.50 and a beta of 1.26. Lululemon Athletica Inc. has a twelve month low of $293.03 and a twelve month high of $516.39. The firm’s fifty day moving average price is $323.33 and its 200-day moving average price is $403.45.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 EPS. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.