Marest Capital LLC Has $660,000 Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Marest Capital LLC cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 44.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,690 shares of the apparel retailer’s stock after selling 1,337 shares during the quarter. Lululemon Athletica accounts for about 0.6% of Marest Capital LLC’s investment portfolio, making the stock its 10th largest holding. Marest Capital LLC’s holdings in Lululemon Athletica were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Valley National Advisers Inc. grew its position in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 42 shares during the period. Tidemark LLC bought a new stake in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in Lululemon Athletica during the first quarter valued at approximately $29,000. Finally, Morton Brown Family Wealth LLC bought a new stake in Lululemon Athletica during the fourth quarter valued at approximately $31,000. 85.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LULU. The Goldman Sachs Group cut their target price on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research report on Friday, May 24th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $425.00 in a report on Thursday, June 6th. BTIG Research assumed coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They set a “buy” rating and a $425.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Finally, Robert W. Baird lowered their price target on shares of Lululemon Athletica from $505.00 to $470.00 and set an “outperform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $431.94.

Lululemon Athletica Price Performance

NASDAQ LULU traded down $1.35 during trading on Wednesday, reaching $300.32. 951,293 shares of the company’s stock traded hands, compared to its average volume of 2,059,542. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company’s 50 day simple moving average is $324.62 and its two-hundred day simple moving average is $404.18. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $2.28 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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.