Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 687.8% during the first quarter, Holdings Channel reports. The firm owned 969 shares of the apparel retailer’s stock after buying an additional 846 shares during the quarter. Truvestments Capital LLC’s holdings in Lululemon Athletica were worth $379,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its holdings in shares of Lululemon Athletica by 362.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 121,143 shares of the apparel retailer’s stock valued at $47,325,000 after buying an additional 94,943 shares during the period. Advisors Asset Management Inc. increased its holdings in Lululemon Athletica by 6.9% in the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock valued at $560,000 after buying an additional 92 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in shares of Lululemon Athletica by 133.6% during the 1st quarter. Freestone Capital Holdings LLC now owns 1,981 shares of the apparel retailer’s stock worth $774,000 after acquiring an additional 1,133 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Lululemon Athletica by 81.7% during the 1st quarter. CreativeOne Wealth LLC now owns 1,274 shares of the apparel retailer’s stock worth $497,000 after acquiring an additional 573 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Lululemon Athletica in the first quarter valued at approximately $146,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Up 2.5 %

Shares of LULU traded up $6.18 during mid-day trading on Friday, hitting $253.50. The company had a trading volume of 4,121,392 shares, compared to its average volume of 2,115,246. Lululemon Athletica Inc. has a 1-year low of $245.59 and a 1-year high of $516.39. The business’s 50-day simple moving average is $300.18 and its 200-day simple moving average is $377.32. The stock has a market cap of $31.69 billion, a PE ratio of 20.33, a P/E/G ratio of 1.23 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 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 business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm posted $2.28 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has initiated a share buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LULU. JPMorgan Chase & Co. dropped their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research report on Friday, May 24th. BTIG Research initiated coverage on Lululemon Athletica in a research report on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price on the stock. Wedbush raised their price target on Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Finally, Bank of America lifted their price target on Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $416.26.

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.