Bleakley Financial Group LLC Raises Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Bleakley Financial Group LLC increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,889 shares of the apparel retailer’s stock after purchasing an additional 38 shares during the period. Bleakley Financial Group LLC’s holdings in Lululemon Athletica were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the period. Tidemark LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter valued at about $26,000. Benjamin Edwards Inc. raised its stake in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. Finally, Riverview Trust Co purchased a new stake in Lululemon Athletica during the first quarter valued at about $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $292.68 on Thursday. The firm has a 50-day moving average of $310.60 and a 200 day moving average of $388.33. Lululemon Athletica Inc. has a 1 year low of $282.04 and a 1 year high of $516.39. The stock has a market cap of $36.59 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.28 EPS. Research analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has initiated a share buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays reduced their price objective 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. Needham & Company LLC reduced their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. The Goldman Sachs Group lowered their price objective on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research report on Friday, May 24th. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Finally, Evercore ISI reduced their price target on Lululemon Athletica from $515.00 to $400.00 in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.29.

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.