Lululemon Athletica Inc. (NASDAQ:LULU) Shares Bought by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC boosted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 98.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,492 shares of the apparel retailer’s stock after buying an additional 2,722 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Lululemon Athletica were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its position in shares of Lululemon Athletica by 600.0% in the fourth 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 stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $31,000. Finally, True Wealth Design LLC grew its position in shares of Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock traded up $0.46 during mid-day trading on Monday, hitting $312.28. 2,155,220 shares of the stock traded hands, compared to its average volume of 2,079,059. Lululemon Athletica Inc. has a twelve month low of $293.03 and a twelve month high of $516.39. The firm has a market cap of $39.04 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27. The company’s 50-day simple moving average is $330.77 and its 200-day simple moving average is $413.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last issued its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $2.28 EPS. Analysts forecast that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

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

Analysts Set New Price Targets

LULU has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Wedbush raised their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. KeyCorp decreased their price target on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. BMO Capital Markets decreased their price target on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, TD Cowen raised their price target on shares of Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $433.06.

Check Out Our Latest Stock Analysis on LULU

Lululemon Athletica Profile

(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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.

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

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