EP Wealth Advisors LLC Purchases 2,115 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

EP Wealth Advisors LLC boosted its holdings in Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 90.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,453 shares of the apparel retailer’s stock after acquiring an additional 2,115 shares during the quarter. EP Wealth Advisors LLC’s holdings in Lululemon Athletica were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at $1,114,000. Rockline Wealth Management LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $1,503,000. Envestnet Asset Management Inc. raised its holdings in shares of Lululemon Athletica by 30.3% during the third quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after purchasing an additional 44,141 shares during the last quarter. Advisory Services Network LLC lifted its position in Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after purchasing an additional 319 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in Lululemon Athletica by 10.9% in the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock worth $871,000 after purchasing an additional 168 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LULU has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Telsey Advisory Group lowered their target price on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating on the stock in a report on Thursday, June 6th. BTIG Research started coverage on Lululemon Athletica in a research note on Wednesday, May 8th. They set a “buy” rating and a $425.00 price target for the company. Guggenheim lowered their price objective on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler dropped their price objective on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $433.06.

View Our Latest Analysis on LULU

Lululemon Athletica Price Performance

Shares of LULU stock traded down $1.48 during trading hours on Friday, hitting $306.01. The stock had a trading volume of 1,472,697 shares, compared to its average volume of 3,582,924. The stock has a market capitalization of $38.56 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.39 and a beta of 1.27. Lululemon Athletica Inc. has a one year low of $293.03 and a one year high of $516.39. The stock’s 50-day moving average price is $334.65 and its two-hundred day moving average price is $418.67.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

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

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Lululemon Athletica Company 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.

Further Reading

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

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