OV Management LLC Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

OV Management LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,200 shares of the apparel retailer’s stock, valued at approximately $1,553,000.

Several other institutional investors also recently bought and sold shares of LULU. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $26,000. Richardson Financial Services Inc. acquired a new position in shares of Lululemon Athletica in the fourth quarter worth about $31,000. True Wealth Design LLC grew its position in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LULU shares. JPMorgan Chase & Co. cut their price objective on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. KeyCorp reduced their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Sanford C. Bernstein lowered their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. TD Cowen reduced their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, BMO Capital Markets lowered their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $266.76 on Friday. The firm has a market capitalization of $32.75 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock’s 50-day simple moving average is $262.01 and its 200-day simple moving average is $326.05.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 EPS. On average, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has authorized a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are 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.