STF Management LP Lowers Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

STF Management LP cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,936 shares of the apparel retailer’s stock after selling 87 shares during the period. STF Management LP’s holdings in Lululemon Athletica were worth $578,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Lululemon Athletica during the 4th quarter worth $31,000. True Wealth Design LLC boosted its position in Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 59 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

LULU has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Piper Sandler upped their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Raymond James decreased their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Finally, Robert W. Baird decreased their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Stock Down 0.5 %

LULU opened at $265.30 on Tuesday. The firm has a market cap of $33.16 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company’s 50-day moving average price is $261.44 and its 200 day moving average price is $322.65.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. Research analysts anticipate that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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