Traders Purchase High Volume of Lululemon Athletica Call Options (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 38,342 call options on the company. This is an increase of 64% compared to the average volume of 23,384 call options.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nicola Wealth Management LTD. boosted its stake in shares of Lululemon Athletica by 10.3% in the first quarter. Nicola Wealth Management LTD. now owns 35,300 shares of the apparel retailer’s stock worth $9,992,000 after buying an additional 3,300 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Lululemon Athletica during the first quarter worth about $806,000. Anderson Financial Strategies LLC raised its position in shares of Lululemon Athletica by 242.3% during the 1st quarter. Anderson Financial Strategies LLC now owns 267 shares of the apparel retailer’s stock worth $76,000 after purchasing an additional 189 shares during the last quarter. Strs Ohio purchased a new stake in Lululemon Athletica during the 1st quarter worth approximately $12,451,000. Finally, Mattson Financial Services LLC raised its holdings in shares of Lululemon Athletica by 20.8% during the first quarter. Mattson Financial Services LLC now owns 482 shares of the apparel retailer’s stock valued at $136,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI increased their target price on shares of Lululemon Athletica from $320.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lululemon Athletica in a research note on Friday, June 6th. Citigroup reduced their target price on Lululemon Athletica from $325.00 to $270.00 and set a “neutral” rating for the company in a report on Friday, June 6th. The Goldman Sachs Group dropped their price target on Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $340.26.

Lululemon Athletica Stock Down 2.4%

Shares of LULU opened at $252.28 on Thursday. The company has a 50 day moving average of $285.28 and a two-hundred day moving average of $336.70. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The company has a market cap of $30.43 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting the consensus estimate of $2.60. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. On average, sell-side analysts expect that Lululemon Athletica will post 14.36 EPS for the current year.

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.