SteelPeak Wealth LLC Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

SteelPeak Wealth LLC raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,944 shares of the apparel retailer’s stock after purchasing an additional 294 shares during the quarter. SteelPeak Wealth LLC’s holdings in Lululemon Athletica were worth $759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $1,114,000. Rockline Wealth Management LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $1,503,000. Advisory Services Network LLC increased its holdings in Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after buying an additional 319 shares during the period. HB Wealth Management LLC increased its holdings in Lululemon Athletica by 10.9% during the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after buying an additional 168 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Lululemon Athletica by 42.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after buying an additional 805 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LULU. Needham & Company LLC cut their price objective on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. BMO Capital Markets lowered their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Barclays lowered their target price on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating for the company in a research note on Thursday, June 6th. BTIG Research initiated coverage on shares of Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Robert W. Baird lowered their price objective on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Two 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.06.

Lululemon Athletica Trading Down 3.1 %

LULU traded down $9.60 on Friday, reaching $298.70. The stock had a trading volume of 3,496,845 shares, compared to its average volume of 2,852,565. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39. The business’s 50-day moving average price is $327.07 and its two-hundred day moving average price is $406.83. The company has a market cap of $37.34 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27.

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

Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.