Lululemon Athletica (NASDAQ:LULU) Shares Down 1.1%

Lululemon Athletica Inc. (NASDAQ:LULU)’s share price dropped 1.1% on Wednesday . The stock traded as low as $253.00 and last traded at $255.26. Approximately 421,202 shares were traded during trading, a decline of 80% from the average daily volume of 2,131,215 shares. The stock had previously closed at $258.08.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LULU shares. UBS Group reduced their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Bank of America decreased their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. KeyCorp decreased their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Piper Sandler raised their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Trading Up 0.3 %

The business has a fifty day moving average price of $267.41 and a two-hundred day moving average price of $334.29. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $2.68 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits 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.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Lululemon Athletica by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after purchasing an additional 154,985 shares during the last quarter. Value Star Asset Management Hong Kong Ltd lifted its stake in shares of Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after buying an additional 4,630,466 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Lululemon Athletica by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after buying an additional 82,731 shares during the period. Capital World Investors grew its stake in Lululemon Athletica by 0.9% in the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after buying an additional 14,112 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Lululemon Athletica by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock worth $445,268,000 after acquiring an additional 18,924 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.