Ritholtz Wealth Management Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Ritholtz Wealth Management bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 433 shares of the apparel retailer’s stock, valued at approximately $221,000.

Several other institutional investors have also recently added to or reduced their stakes in LULU. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 0.5% in the third quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer’s stock valued at $2,824,150,000 after acquiring an additional 38,432 shares during the last quarter. State Street Corp boosted its stake in Lululemon Athletica by 0.7% in the first quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock worth $959,144,000 after purchasing an additional 18,147 shares in the last quarter. Morgan Stanley grew its holdings in shares of Lululemon Athletica by 29.2% during the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after buying an additional 310,347 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Lululemon Athletica by 3.2% in the first quarter. Geode Capital Management LLC now owns 1,659,260 shares of the apparel retailer’s stock valued at $603,418,000 after buying an additional 51,572 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU opened at $378.06 on Wednesday. The stock has a 50 day simple moving average of $452.47 and a 200 day simple moving average of $442.27. Lululemon Athletica Inc. has a 52-week low of $326.93 and a 52-week high of $516.39. The firm has a market capitalization of $47.64 billion, a PE ratio of 30.96, a P/E/G ratio of 1.38 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.40 earnings per share. Equities research analysts predict that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Martha A. M. Morfitt acquired 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

LULU has been the subject of several research reports. Bank of America raised their price objective on shares of Lululemon Athletica from $450.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, December 8th. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $430.00 to $415.00 in a report on Friday, February 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $550.00 target price on shares of Lululemon Athletica in a research note on Friday, March 22nd. Wells Fargo & Company cut their price target on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Finally, TD Cowen lowered their price objective on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $496.29.

Check Out Our Latest Report 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 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.

See Also

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

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