Narwhal Capital Management Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Narwhal Capital Management acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 680 shares of the apparel retailer’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Moody National Bank Trust Division increased its holdings in shares of Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after acquiring an additional 29 shares in the last quarter. Congress Wealth Management LLC DE increased its stake in Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after purchasing an additional 30 shares in the last quarter. Graypoint LLC raised its holdings in Lululemon Athletica by 5.1% during the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after buying an additional 34 shares during the last quarter. William Allan Corp lifted its stake 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 valued at $1,913,000 after buying an additional 37 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Lululemon Athletica by 50.7% during the fourth quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock valued at $58,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on LULU shares. TD Cowen dropped their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Guggenheim dropped their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Raymond James decreased their price target on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Finally, Wedbush reduced their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Stock Up 0.1 %

NASDAQ LULU opened at $253.84 on Friday. The firm has a market cap of $31.73 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The company’s 50 day moving average is $266.51 and its 200-day moving average is $332.93. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

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

Insider Buying and Selling

In related news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Company 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.