Seven Eight Capital LP Purchases New Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Seven Eight Capital LP acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the second quarter, HoldingsChannel.com reports. The firm acquired 11,872 shares of the apparel retailer’s stock, valued at approximately $3,546,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the fourth quarter worth $26,000. Richardson Financial Services Inc. bought a new stake in Lululemon Athletica in the fourth quarter worth $31,000. True Wealth Design LLC increased its position in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Trading Up 1.2 %

LULU stock opened at $268.41 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm’s 50-day moving average price is $261.01 and its two-hundred day moving average price is $321.31. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.38 and a beta of 1.25.

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

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LULU has been the subject of a number of research reports. Sanford C. Bernstein lowered their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Citigroup reduced their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. BMO Capital Markets decreased their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Finally, Oppenheimer restated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94.

About Lululemon Athletica

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.