Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.1% in the 1st quarter, Holdings Channel reports. The fund owned 63,588 shares of the apparel retailer’s stock after selling 738 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Lululemon Athletica were worth $24,841,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. increased its holdings in shares of Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC acquired a new position in Lululemon Athletica in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $26,000. Benjamin Edwards Inc. grew its holdings in shares of Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Lululemon Athletica in the first quarter worth $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $357.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 13th. Bank of America boosted their target price on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Sandler lowered their price target on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Finally, KeyCorp cut their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $431.94.

Lululemon Athletica Stock Down 1.1 %

Shares of Lululemon Athletica stock traded down $3.23 on Wednesday, hitting $286.64. The stock had a trading volume of 1,355,959 shares, compared to its average volume of 2,044,299. Lululemon Athletica Inc. has a twelve month low of $283.49 and a twelve month high of $516.39. The business’s 50 day moving average is $317.99 and its two-hundred day moving average is $396.77. The stock has a market cap of $35.83 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business earned $2.28 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts predict that Lululemon Athletica Inc. will post 14.29 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 authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.