Montag A & Associates Inc. Raises Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Montag A & Associates Inc. grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 97.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,258 shares of the apparel retailer’s stock after purchasing an additional 1,611 shares during the quarter. Montag A & Associates Inc.’s holdings in Lululemon Athletica were worth $1,273,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lululemon Athletica by 32.3% during the fourth 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 during the last quarter. Capital World Investors grew its holdings in shares of Lululemon Athletica by 0.9% during the fourth quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock worth $791,371,000 after purchasing an additional 14,112 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Lululemon Athletica by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock worth $445,268,000 after buying an additional 18,924 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Lululemon Athletica by 3.8% during the fourth quarter. Brown Advisory Inc. now owns 846,810 shares of the apparel retailer’s stock worth $432,965,000 after buying an additional 31,232 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the topic of a number of research reports. BMO Capital Markets lowered their price target on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a report on Thursday, June 6th. TD Cowen raised their price target on Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Piper Sandler lowered their price target on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Wedbush raised their price target on Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, Wells Fargo & Company lowered their price objective on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.29.

Lululemon Athletica Stock Down 2.6 %

Shares of Lululemon Athletica stock traded down $7.65 during trading on Monday, hitting $283.41. 1,219,721 shares of the company were exchanged, compared to its average volume of 2,040,785. The stock has a market capitalization of $35.43 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.45 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $283.01 and a fifty-two week high of $516.39. The firm has a 50 day moving average price of $314.15 and a 200 day moving average price of $392.14.

Lululemon Athletica (NASDAQ:LULU) last released its 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 firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. Lululemon Athletica’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 EPS. Analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.