Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC grew its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 16.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 857 shares of the apparel retailer’s stock after buying an additional 122 shares during the period. Crescent Grove Advisors LLC’s holdings in Lululemon Athletica were worth $256,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Summit Global Investments purchased a new position in shares of Lululemon Athletica in the 2nd quarter valued at approximately $1,129,000. Liberty One Investment Management LLC raised its holdings in shares of Lululemon Athletica by 17.8% in the second quarter. Liberty One Investment Management LLC now owns 2,743 shares of the apparel retailer’s stock worth $819,000 after buying an additional 415 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Lululemon Athletica by 217.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 1,966 shares of the apparel retailer’s stock worth $587,000 after buying an additional 1,347 shares during the period. First Pacific Financial acquired a new stake in shares of Lululemon Athletica during the second quarter worth $789,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Lululemon Athletica by 13.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 55,709 shares of the apparel retailer’s stock valued at $16,640,000 after acquiring an additional 6,426 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

LULU has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on Lululemon Athletica from $410.00 to $416.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group cut their price objective on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. Barclays decreased their target price on Lululemon Athletica from $338.00 to $263.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their target price for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $402.00.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU traded up $5.03 during trading on Wednesday, hitting $265.63. The company’s stock had a trading volume of 1,896,562 shares, compared to its average volume of 2,087,708. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The business has a 50 day moving average price of $278.03 and a two-hundred day moving average price of $348.71. The company has a market capitalization of $33.20 billion, a PE ratio of 21.30, a P/E/G ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $2.28 earnings per share. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that Lululemon Athletica Inc. will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback 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 repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is 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.