Wesbanco Bank Inc. Buys 3,400 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Wesbanco Bank Inc. increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 47.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,546 shares of the apparel retailer’s stock after purchasing an additional 3,400 shares during the period. Wesbanco Bank Inc.’s holdings in Lululemon Athletica were worth $3,150,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after buying an additional 2,369,119 shares in the last quarter. Norges Bank bought a new position in Lululemon Athletica in the 4th quarter valued at $236,378,000. Northern Trust Corp boosted its holdings in Lululemon Athletica by 32.7% in the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock valued at $534,815,000 after purchasing an additional 257,944 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Lululemon Athletica by 61.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock valued at $334,072,000 after purchasing an additional 249,232 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in Lululemon Athletica by 2,485.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 238,664 shares of the apparel retailer’s stock valued at $122,027,000 after buying an additional 229,433 shares during the period. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 0.1 %

Shares of LULU opened at $241.39 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm’s 50-day moving average price is $289.23 and its 200-day moving average price is $363.41. The firm has a market capitalization of $30.17 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping 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 last year, the business posted $2.28 earnings per share. Lululemon Athletica’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.22 EPS 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 repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush raised their price target on Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Stifel Nicolaus boosted their price target on shares of Lululemon Athletica from $410.00 to $416.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Barclays lowered their price objective on shares of Lululemon Athletica from $338.00 to $263.00 and set an “equal weight” rating on the stock in a research report on Wednesday. BTIG Research started coverage on shares of Lululemon Athletica in a research report on Wednesday, May 8th. They issued a “buy” rating and a $425.00 target price for the company. Finally, Robert W. Baird lowered their price target on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $404.26.

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.