SYSTM Wealth Solutions LLC Purchases 192 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

SYSTM Wealth Solutions LLC raised its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,319 shares of the apparel retailer’s stock after purchasing an additional 192 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Lululemon Athletica were worth $1,290,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its stake in shares of Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares during the period. Brookstone Capital Management grew its stake in shares of Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after purchasing an additional 1,148 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the period. Advisory Services Network LLC grew its stake in shares of Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after acquiring an additional 319 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Lululemon Athletica by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after acquiring an additional 321 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on LULU shares. 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. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Telsey Advisory Group cut their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Sanford C. Bernstein cut their price objective on 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. Finally, Barclays cut their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $268.41 on Wednesday. The stock’s fifty day moving average is $261.01 and its 200 day moving average is $321.31. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a market capitalization of $33.55 billion, a PE ratio of 21.52, a PEG ratio of 1.38 and a beta of 1.25.

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

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

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

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.