Lululemon Athletica Inc. (NASDAQ:LULU) Shares Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 81.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,274 shares of the apparel retailer’s stock after acquiring an additional 573 shares during the period. CreativeOne Wealth LLC’s holdings in Lululemon Athletica were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its stake in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Tidemark LLC purchased a new position in Lululemon Athletica in the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica in the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC purchased a new position in Lululemon Athletica in the 4th quarter valued at about $31,000. Finally, Richardson Financial Services Inc. purchased a new position in Lululemon Athletica in the 4th quarter valued at about $31,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Shares of LULU traded up $5.88 during midday trading on Friday, hitting $253.20. 2,927,741 shares of the stock traded hands, compared to its average volume of 2,093,597. The firm has a market capitalization of $31.65 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26. The business’s 50 day moving average price is $301.81 and its two-hundred day moving average price is $379.73. Lululemon Athletica Inc. has a 1-year low of $245.59 and a 1-year high of $516.39.

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

Lululemon Athletica announced that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LULU shares. Morgan Stanley reduced their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. BTIG Research began coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They set a “buy” rating and a $425.00 price objective on the stock. Evercore ISI cut their price objective on shares of Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday. Citigroup lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $415.00 to $300.00 in a report on Thursday. Finally, UBS Group cut their price objective on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $416.26.

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.