Cambridge Investment Research Advisors Inc. Purchases 13,312 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Cambridge Investment Research Advisors Inc. lifted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 116.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,724 shares of the apparel retailer’s stock after acquiring an additional 13,312 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lululemon Athletica were worth $7,385,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tidemark LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $26,000. Benjamin Edwards Inc. raised its stake in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica in the first quarter valued at approximately $29,000. Finally, True Wealth Design LLC boosted its holdings in shares of Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 59 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

LULU traded down $6.21 on Wednesday, reaching $264.97. 380,565 shares of the company’s stock were exchanged, compared to its average volume of 2,073,406. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The stock has a market cap of $33.12 billion, a PE ratio of 21.23, a P/E/G ratio of 1.25 and a beta of 1.26. The stock’s fifty day moving average price is $275.58 and its 200-day moving average price is $343.83.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 EPS. As a group, research analysts predict that Lululemon Athletica Inc. will post 14.22 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LULU. Wedbush decreased their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating and set a $250.00 target price on shares of Lululemon Athletica in a report on Friday, August 23rd. Wells Fargo & Company reduced their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. Finally, Raymond James reduced their price objective on shares of Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $375.00.

About Lululemon Athletica

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.