Capital Group Investment Management PTE. LTD. Sells 3,314 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Capital Group Investment Management PTE. LTD. cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 65.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,781 shares of the apparel retailer’s stock after selling 3,314 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Lululemon Athletica were worth $696,000 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. Advisors Asset Management Inc. grew its holdings in Lululemon Athletica by 6.9% during the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock valued at $560,000 after purchasing an additional 92 shares during the period. Freestone Capital Holdings LLC raised its stake in Lululemon Athletica by 133.6% during the 1st quarter. Freestone Capital Holdings LLC now owns 1,981 shares of the apparel retailer’s stock worth $774,000 after acquiring an additional 1,133 shares during the period. CreativeOne Wealth LLC lifted its holdings in Lululemon Athletica by 81.7% during the first quarter. CreativeOne Wealth LLC now owns 1,274 shares of the apparel retailer’s stock valued at $497,000 after purchasing an additional 573 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Lululemon Athletica in the first quarter worth approximately $146,000. Finally, Forte Capital LLC ADV increased its stake in shares of Lululemon Athletica by 1.9% in the first quarter. Forte Capital LLC ADV now owns 30,675 shares of the apparel retailer’s stock worth $11,983,000 after purchasing an additional 574 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Trading Up 2.5 %

Shares of Lululemon Athletica stock traded up $6.18 on Friday, hitting $253.50. 4,116,828 shares of the company traded hands, compared to its average volume of 2,101,909. The company has a market cap of $31.69 billion, a PE ratio of 20.38, a PEG ratio of 1.35 and a beta of 1.26. The stock’s 50 day moving average price is $301.81 and its 200-day moving average price is $379.73. Lululemon Athletica Inc. has a 52 week low of $245.59 and a 52 week high of $516.39.

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

Lululemon Athletica declared that its Board of Directors has approved a share repurchase program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LULU. The Goldman Sachs Group lowered their price objective on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Oppenheimer restated an “outperform” rating and issued a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. BMO Capital Markets reduced their price objective 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. TD Cowen dropped their target price on shares of Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wedbush increased their price objective on shares of Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $416.26.

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.