Beck Bode LLC Buys 13,007 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Beck Bode LLC grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 49.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,144 shares of the apparel retailer’s stock after purchasing an additional 13,007 shares during the period. Lululemon Athletica makes up approximately 2.3% of Beck Bode LLC’s investment portfolio, making the stock its 20th biggest position. Beck Bode LLC’s holdings in Lululemon Athletica were worth $11,692,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Amalgamated Bank increased its position in Lululemon Athletica by 1.5% in the second quarter. Amalgamated Bank now owns 25,040 shares of the apparel retailer’s stock worth $7,479,000 after purchasing an additional 367 shares during the last quarter. Tredje AP fonden increased its holdings in shares of Lululemon Athletica by 255.2% in the 2nd quarter. Tredje AP fonden now owns 34,379 shares of the apparel retailer’s stock worth $10,269,000 after buying an additional 24,700 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of Lululemon Athletica by 4.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 4,319 shares of the apparel retailer’s stock valued at $1,290,000 after buying an additional 192 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 52.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 1,467 shares of the apparel retailer’s stock valued at $438,000 after acquiring an additional 504 shares during the last quarter. Finally, Virtu Financial LLC grew its position in Lululemon Athletica by 121.1% in the second quarter. Virtu Financial LLC now owns 16,731 shares of the apparel retailer’s stock worth $4,997,000 after acquiring an additional 9,163 shares in the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Trading Up 1.2 %

Shares of LULU opened at $268.41 on Wednesday. The firm has a market cap of $33.55 billion, a P/E ratio of 21.52, a PEG ratio of 1.38 and a beta of 1.25. The stock’s 50 day moving average is $261.01 and its two-hundred day moving average is $321.31. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.68 EPS. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.03 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 buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LULU. TD Cowen dropped their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $310.00 price target on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Oppenheimer reissued an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Finally, Barclays dropped their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.94.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.