Columbia Asset Management Lowers Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Columbia Asset Management reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,376 shares of the apparel retailer’s stock after selling 97 shares during the period. Columbia Asset Management’s holdings in Lululemon Athletica were worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tidemark LLC acquired a new stake in Lululemon Athletica during the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth about $26,000. Benjamin Edwards Inc. boosted its stake in shares of Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Lululemon Athletica in the 1st quarter valued at about $29,000. Finally, Larson Financial Group LLC raised its holdings in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LULU shares. Oppenheimer restated an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Barclays reduced their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. dropped their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen reduced their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Down 0.7 %

NASDAQ:LULU opened at $253.70 on Friday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a market cap of $31.71 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The stock has a fifty day moving average price of $267.41 and a 200 day moving average price of $334.29.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the business posted $2.68 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are 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.