Verus Capital Partners LLC Buys 206 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Verus Capital Partners LLC grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 20.5% in the third quarter, HoldingsChannel.com reports. The firm owned 1,212 shares of the apparel retailer’s stock after purchasing an additional 206 shares during the period. Verus Capital Partners LLC’s holdings in Lululemon Athletica were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LULU. MetLife Investment Management LLC bought a new stake in Lululemon Athletica during the 1st quarter worth approximately $2,696,000. Panagora Asset Management Inc. increased its holdings in Lululemon Athletica by 48.4% during the 1st quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock worth $602,000 after purchasing an additional 537 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Lululemon Athletica by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock worth $1,469,000 after purchasing an additional 100 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock worth $457,000 after purchasing an additional 76 shares in the last quarter. Finally, Prudential PLC bought a new stake in Lululemon Athletica during the 1st quarter worth approximately $774,000. 91.50% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

LULU stock opened at $468.40 on Thursday. Lululemon Athletica Inc. has a fifty-two week low of $286.58 and a fifty-two week high of $516.39. The business’s 50 day moving average price is $471.16 and its two-hundred day moving average price is $415.10. The company has a market capitalization of $59.11 billion, a price-to-earnings ratio of 59.59, a price-to-earnings-growth ratio of 1.96 and a beta of 1.38.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its quarterly earnings data on Thursday, December 7th. The apparel retailer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.25. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Lululemon Athletica had a return on equity of 44.81% and a net margin of 10.89%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. Sell-side analysts forecast that Lululemon Athletica Inc. will post 12.46 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on LULU. Barclays upped their target price on Lululemon Athletica from $530.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Truist Financial upped their target price on Lululemon Athletica from $555.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Evercore upped their target price on Lululemon Athletica from $475.00 to $540.00 and gave the company an “outperform” rating in a report on Tuesday, December 5th. Needham & Company LLC upped their target price on Lululemon Athletica from $470.00 to $525.00 and gave the company a “buy” rating in a report on Friday, December 8th. Finally, Bank of America upped their target price on Lululemon Athletica from $450.00 to $520.00 and gave the company a “buy” rating in a report on Friday, December 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $503.61.

Get Our Latest Research Report on LULU

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald sold 25,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $497.50, for a total value of $12,437,500.00. Following the completion of the sale, the chief executive officer now directly owns 73,793 shares in the company, valued at approximately $36,712,017.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lululemon Athletica news, insider Celeste Burgoyne sold 15,400 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $494.64, for a total value of $7,617,456.00. Following the completion of the sale, the insider now owns 9,902 shares of the company’s stock, valued at $4,897,925.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Calvin Mcdonald sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $497.50, for a total transaction of $12,437,500.00. Following the completion of the sale, the chief executive officer now directly owns 73,793 shares of the company’s stock, valued at approximately $36,712,017.50. The disclosure for this sale can be found here. Insiders sold 42,658 shares of company stock worth $21,183,956 in the last three months. Corporate insiders own 0.54% of the company’s stock.

About Lululemon Athletica

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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