Koshinski Asset Management Inc. Takes $226,000 Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Koshinski Asset Management Inc. purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 579 shares of the apparel retailer’s stock, valued at approximately $226,000.

Other large investors also recently modified their holdings of the company. Valley National Advisers Inc. raised its position in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Tidemark LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $26,000. Morton Brown Family Wealth LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at about $31,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth about $31,000. Institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on LULU shares. Truist Financial reduced their target price on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Citigroup decreased their price objective on shares of Lululemon Athletica from $500.00 to $415.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. 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 report on Thursday, June 6th. Bank of America raised their target price on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Piper Sandler decreased their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.29.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $1.01 during mid-day trading on Friday, reaching $284.12. 280,760 shares of the company were exchanged, compared to its average volume of 2,029,438. The firm has a market cap of $35.52 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.46 and a beta of 1.26. Lululemon Athletica Inc. has a 1 year low of $282.04 and a 1 year high of $516.39. The firm’s 50-day simple moving average is $309.25 and its 200 day simple moving average is $387.62.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The company had revenue of $2.21 billion during 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%. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 EPS. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has initiated a stock repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.