Mirae Asset Global Investments Co. Ltd. Sells 13,652 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Mirae Asset Global Investments Co. Ltd. lowered its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,583 shares of the apparel retailer’s stock after selling 13,652 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Lululemon Athletica worth $50,622,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LULU. Daymark Wealth Partners LLC grew its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after buying an additional 21 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after buying an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after purchasing an additional 23 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in Lululemon Athletica by 11.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after purchasing an additional 25 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. TD Cowen increased their target price on Lululemon Athletica from $437.00 to $447.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Sanford C. Bernstein increased their target price on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. Barclays cut their target price on Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Finally, Piper Sandler dropped their price target on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $431.94.

Lululemon Athletica Price Performance

Shares of LULU stock traded down $2.18 during trading hours on Friday, hitting $298.14. The stock had a trading volume of 1,254,975 shares, compared to its average volume of 1,852,354. Lululemon Athletica Inc. has a one year low of $293.03 and a one year high of $516.39. The stock’s 50-day moving average price is $320.81 and its two-hundred day moving average price is $401.32. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.49 and a beta of 1.26.

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

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

Lululemon Athletica Company 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.