Columbia Asset Management Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Columbia Asset Management trimmed its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.0% during the second quarter, HoldingsChannel reports. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moody National Bank Trust Division raised its holdings in shares of Lululemon Athletica by 1.0% in the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after buying an additional 29 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after acquiring an additional 30 shares during the last quarter. Graypoint LLC lifted its position in Lululemon Athletica by 5.1% during the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after acquiring an additional 34 shares during the period. William Allan Corp grew its stake in shares of Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after purchasing an additional 37 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Lululemon Athletica by 50.7% in the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock valued at $58,000 after purchasing an additional 38 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $253.70 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The firm has a 50 day moving average price of $267.41 and a 200 day moving average price of $334.29. The company has a market cap of $31.71 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.40 and a beta of 1.26.

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. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 EPS. Sell-side analysts predict that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LULU. TD Securities increased their price target on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a report on Thursday, July 25th. Truist Financial reissued a “buy” rating and set a $310.00 price target on shares of Lululemon Athletica in a report on Wednesday, August 28th. TD Cowen dropped their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company reduced their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $354.94.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

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.