Lmcg Investments LLC Grows Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Lmcg Investments LLC grew its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,311 shares of the apparel retailer’s stock after buying an additional 5,539 shares during the period. Lmcg Investments LLC’s holdings in Lululemon Athletica were worth $8,755,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tidemark LLC acquired a new position in Lululemon Athletica in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth $26,000. Benjamin Edwards Inc. increased its stake in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares during the period. Riverview Trust Co purchased a new position in shares of Lululemon Athletica during the first quarter worth $29,000. Finally, Larson Financial Group LLC lifted its position in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 43 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Robert W. Baird reduced their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Guggenheim lowered their price objective on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. TD Securities lifted their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, KeyCorp decreased their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Down 0.5 %

Shares of LULU opened at $265.30 on Tuesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a market capitalization of $33.16 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.38 and a beta of 1.25. The firm has a 50-day moving average price of $261.44 and a 200 day moving average price of $322.65.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $2.68 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.