775 Shares in Lululemon Athletica Inc. (NASDAQ:LULU) Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 775 shares of the apparel retailer’s stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Financial Partners Inc lifted its holdings in shares of Lululemon Athletica by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after acquiring an additional 23 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Lululemon Athletica by 1.0% in the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Lululemon Athletica by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after acquiring an additional 30 shares during the last quarter. Graypoint LLC lifted its holdings in shares of Lululemon Athletica by 5.1% in the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after acquiring an additional 34 shares during the last quarter. Finally, William Allan Corp lifted its holdings in shares of Lululemon Athletica by 0.8% in the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen lowered their price objective on Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $357.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 13th. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Finally, Citigroup downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their target price for the company from $415.00 to $300.00 in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $406.68.

Lululemon Athletica Stock Down 5.2 %

LULU traded down $13.05 during trading hours on Friday, hitting $236.00. The stock had a trading volume of 3,097,868 shares, compared to its average volume of 2,352,833. The company’s fifty day simple moving average is $294.31 and its 200 day simple moving average is $370.05. Lululemon Athletica Inc. has a 1 year low of $234.69 and a 1 year high of $516.39. The stock has a market cap of $29.50 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The business 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 company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. As a group, equities analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is 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.