Price T Rowe Associates Inc. MD Decreases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Price T Rowe Associates Inc. MD reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 34.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,303 shares of the apparel retailer’s stock after selling 538,463 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.80% of Lululemon Athletica worth $395,848,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock valued at $3,847,103,000 after purchasing an additional 154,985 shares in the last quarter. Capital World Investors raised its stake in shares of Lululemon Athletica by 0.9% in the 4th quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after purchasing an additional 14,112 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lululemon Athletica by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock valued at $445,268,000 after purchasing an additional 18,924 shares in the last quarter. Northern Trust Corp raised its stake in shares of Lululemon Athletica by 32.7% in the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock valued at $534,815,000 after purchasing an additional 257,944 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Brown Advisory Inc. now owns 846,810 shares of the apparel retailer’s stock valued at $432,965,000 after purchasing an additional 31,232 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 0.2 %

NASDAQ:LULU traded up $0.42 during trading hours on Monday, reaching $253.92. 705,017 shares of the company’s stock were exchanged, compared to its average volume of 2,091,799. The company has a market capitalization of $31.74 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Lululemon Athletica Inc. has a 12 month low of $245.59 and a 12 month high of $516.39. The business’s 50-day simple moving average is $300.18 and its two-hundred day simple moving average is $376.57.

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 analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.28 earnings per share. As a group, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.29 earnings per share 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 repurchase $1.00 billion in 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 often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LULU shares. TD Securities dropped their price objective on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Sanford C. Bernstein increased their price objective on shares of Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research note on Friday, June 7th. Wells Fargo & Company dropped their price objective on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Truist Financial dropped their price objective on shares of Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price 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.