Polaris Wealth Advisory Group LLC reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 40.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,609 shares of the apparel retailer’s stock after selling 1,799 shares during the period. Polaris Wealth Advisory Group LLC’s holdings in Lululemon Athletica were worth $988,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC increased its position in shares of Lululemon Athletica by 1,152.5% in the first quarter. FORA Capital LLC now owns 34,808 shares of the apparel retailer’s stock valued at $12,677,000 after acquiring an additional 32,029 shares during the last quarter. Spire Wealth Management grew its holdings in Lululemon Athletica by 45.8% during the first quarter. Spire Wealth Management now owns 4,171 shares of the apparel retailer’s stock worth $1,519,000 after purchasing an additional 1,311 shares during the period. Arlington Partners LLC raised its stake in Lululemon Athletica by 225.0% in the second quarter. Arlington Partners LLC now owns 91 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 63 shares during the period. Simplicity Solutions LLC lifted its position in shares of Lululemon Athletica by 124.3% in the first quarter. Simplicity Solutions LLC now owns 3,070 shares of the apparel retailer’s stock valued at $1,118,000 after buying an additional 1,701 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Lululemon Athletica by 32.6% during the 1st quarter. HighTower Advisors LLC now owns 63,502 shares of the apparel retailer’s stock valued at $23,165,000 after purchasing an additional 15,622 shares during the last quarter. 91.50% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on LULU. HSBC initiated coverage on shares of Lululemon Athletica in a research note on Monday, September 18th. They set a “buy” rating and a $500.00 target price for the company. JPMorgan Chase & Co. increased their target price on Lululemon Athletica from $487.00 to $489.00 and gave the stock an “overweight” rating in a research note on Friday, September 1st. Wells Fargo & Company boosted their price target on Lululemon Athletica from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Morgan Stanley upped their price target on shares of Lululemon Athletica from $424.00 to $437.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Finally, Citigroup set a $450.00 target price on shares of Lululemon Athletica and gave the stock a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $441.93.
View Our Latest Stock Analysis on Lululemon Athletica
Lululemon Athletica Price Performance
NASDAQ:LULU opened at $412.00 on Monday. Lululemon Athletica Inc. has a one year low of $286.58 and a one year high of $419.86. The company has a market cap of $52.35 billion, a PE ratio of 51.64, a P/E/G ratio of 1.75 and a beta of 1.34. The firm’s 50 day simple moving average is $388.26 and its 200 day simple moving average is $378.59.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a net margin of 11.40% and a return on equity of 44.47%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts expect that Lululemon Athletica Inc. will post 12.15 EPS for the current year.
Insiders Place Their Bets
In other news, insider Michelle Sun Choe sold 27,981 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $401.00, for a total value of $11,220,381.00. Following the completion of the sale, the insider now owns 3,892 shares of the company’s stock, valued at $1,560,692. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.
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 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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