RBA Wealth Management LLC Grows Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

RBA Wealth Management LLC raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 4.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,315 shares of the apparel retailer’s stock after buying an additional 358 shares during the period. RBA Wealth Management LLC’s holdings in Lululemon Athletica were worth $3,639,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. grew its position in shares of Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Lululemon Athletica in the first quarter valued at about $29,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 0.4 %

LULU traded down $1.35 during trading hours on Thursday, hitting $300.32. 952,001 shares of the company’s stock were exchanged, compared to its average volume of 2,749,957. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39. The firm has a 50 day moving average of $323.33 and a 200 day moving average of $403.45. The firm has a market cap of $37.54 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced 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. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $2.28 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Jefferies Financial Group lowered their price target on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a research report on Thursday, April 4th. Oppenheimer restated an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Citigroup lowered their price target on shares of Lululemon Athletica from $500.00 to $415.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Guggenheim lowered their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $431.94.

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.