SeaCrest Wealth Management LLC Sells 182 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

SeaCrest Wealth Management LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 13.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,180 shares of the apparel retailer’s stock after selling 182 shares during the period. SeaCrest Wealth Management LLC’s holdings in Lululemon Athletica were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its holdings in Lululemon Athletica by 217.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 1,966 shares of the apparel retailer’s stock worth $587,000 after buying an additional 1,347 shares in the last quarter. First Pacific Financial bought a new stake in shares of Lululemon Athletica in the 2nd quarter worth $789,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Lululemon Athletica by 13.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 55,709 shares of the apparel retailer’s stock valued at $16,640,000 after purchasing an additional 6,426 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Lululemon Athletica by 7.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,382 shares of the apparel retailer’s stock worth $3,699,000 after buying an additional 886 shares in the last quarter. Finally, Lifestyle Asset Management Inc. bought a new position in shares of Lululemon Athletica in the second quarter valued at approximately $214,000. 85.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Sanford C. Bernstein boosted their price objective on Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. Wedbush increased their price objective on Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Evercore ISI dropped their price target on Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird decreased their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group lowered their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $402.00.

Lululemon Athletica Stock Up 3.3 %

Shares of LULU traded up $8.72 during trading hours on Wednesday, hitting $269.32. The company had a trading volume of 701,921 shares, compared to its average volume of 2,079,723. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock’s 50 day moving average price is $278.91 and its 200 day moving average price is $349.29. The firm has a market cap of $33.67 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the business earned $2.28 EPS. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. On average, research analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is 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.