Deltec Asset Management LLC Buys Shares of 1,500 Lululemon Athletica Inc. (NASDAQ:LULU)

Deltec Asset Management LLC bought a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the first quarter, HoldingsChannel.com reports. The firm bought 1,500 shares of the apparel retailer’s stock, valued at approximately $586,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after buying an additional 686,855 shares during the period. Norges Bank bought a new position in Lululemon Athletica in the 4th quarter worth $236,378,000. Morgan Stanley boosted its holdings in shares of Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after purchasing an additional 437,069 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after purchasing an additional 310,347 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock traded down $9.60 during trading on Friday, hitting $298.70. 3,496,845 shares of the company’s stock were exchanged, compared to its average volume of 2,852,565. The business has a 50-day simple moving average of $327.07 and a 200-day simple moving average of $406.83. Lululemon Athletica Inc. has a 52-week low of $293.03 and a 52-week high of $516.39. The stock has a market capitalization of $37.34 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.49 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.28 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on LULU shares. Piper Sandler dropped their price objective on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Robert W. Baird lowered their price target on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Barclays reduced their price objective on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Finally, UBS Group reduced their price objective on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $433.06.

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.