Gardner Lewis Asset Management L P Has $3.48 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Gardner Lewis Asset Management L P raised its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,637 shares of the apparel retailer’s stock after acquiring an additional 1,395 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in Lululemon Athletica were worth $3,476,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Tidemark LLC acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth about $26,000. Benjamin Edwards Inc. boosted its stake 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 worth $27,000 after acquiring an additional 44 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the 1st quarter valued at about $29,000. Finally, Larson Financial Group LLC raised its stake in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares in the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Up 1.2 %

Shares of NASDAQ LULU opened at $268.41 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm’s 50-day simple moving average is $261.01 and its 200 day simple moving average is $321.31. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced its 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. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 earnings per share. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LULU. KeyCorp lowered their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a 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 stock a “buy” rating in a report on Friday, August 30th. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $425.00 in a report on Thursday, June 6th. UBS Group cut their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Truist Financial restated a “buy” rating and set a $310.00 target price on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Two research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $354.94.

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.