Crewe Advisors LLC Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Crewe Advisors LLC bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 1st quarter, Holdings Channel.com reports. The firm bought 142 shares of the apparel retailer’s stock, valued at approximately $55,000.

A number of other large investors also recently modified their holdings of LULU. Pinnacle Financial Partners Inc grew its holdings in Lululemon Athletica by 1.9% in the 4th 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 increased its position 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 buying an additional 29 shares during the period. Congress Wealth Management LLC DE raised its position in shares of Lululemon Athletica by 2.0% in the 4th 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 in the last quarter. Great Lakes Retirement Inc. lifted its position in Lululemon Athletica by 1.1% during the fourth quarter. Great Lakes Retirement Inc. now owns 2,964 shares of the apparel retailer’s stock valued at $1,515,000 after buying an additional 31 shares during the period. Finally, Graypoint LLC boosted its stake 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 acquiring an additional 34 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. TD Securities reduced their price target on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Truist Financial dropped their price objective on shares of Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley decreased their target price on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a research note on Thursday. Finally, BMO Capital Markets cut their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $419.48.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded up $3.92 during midday trading on Friday, hitting $251.24. 1,295,625 shares of the company’s stock were exchanged, compared to its average volume of 2,082,183. The firm has a market cap of $31.41 billion, a P/E ratio of 20.13, a PEG ratio of 1.35 and a beta of 1.26. The stock’s 50 day moving average price is $301.81 and its 200-day moving average price is $379.73. Lululemon Athletica Inc. has a twelve month low of $245.59 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. Lululemon Athletica’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts expect that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is 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.