Oxbow Advisors LLC Buys New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Oxbow Advisors LLC purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,505 shares of the apparel retailer’s stock, valued at approximately $3,735,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new position in Lululemon Athletica in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $31,000. True Wealth Design LLC raised its stake 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 worth $31,000 after buying an additional 59 shares during the period. Finally, Benjamin Edwards Inc. lifted its position 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 buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LULU. TD Securities boosted their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. The Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Jefferies Financial Group reiterated an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Barclays cut their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Finally, TD Cowen decreased their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded up $0.14 during mid-day trading on Friday, reaching $253.84. 2,589,521 shares of the company were exchanged, compared to its average volume of 2,143,810. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The firm’s 50-day simple moving average is $266.51 and its 200 day simple moving average is $332.93. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. On average, research analysts forecast that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

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.