Raymond James & Associates Sells 1,344 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Raymond James & Associates trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,761 shares of the apparel retailer’s stock after selling 1,344 shares during the period. Raymond James & Associates owned about 0.09% of Lululemon Athletica worth $59,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in LULU. Daymark Wealth Partners LLC grew its stake in Lululemon Athletica by 3.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after purchasing an additional 21 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in Lululemon Athletica by 11.1% in the third quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock worth $97,000 after purchasing an additional 25 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in Lululemon Athletica by 3.3% in the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock worth $312,000 after purchasing an additional 26 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Lululemon Athletica by 3.2% in the third quarter. Geneos Wealth Management Inc. now owns 933 shares of the apparel retailer’s stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Finally, Fiduciary Trust Co. grew its stake in Lululemon Athletica by 0.7% in the first quarter. Fiduciary Trust Co. now owns 4,075 shares of the apparel retailer’s stock worth $1,484,000 after purchasing an additional 30 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Up 0.9 %

Shares of Lululemon Athletica stock opened at $389.46 on Thursday. Lululemon Athletica Inc. has a twelve month low of $314.22 and a twelve month high of $516.39. The business has a 50-day moving average price of $459.59 and a 200 day moving average price of $442.32. The firm has a market cap of $49.15 billion, a PE ratio of 31.90, a P/E/G ratio of 1.37 and a beta of 1.33.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business earned $4.40 EPS. Lululemon Athletica’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.24 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LULU shares. Needham & Company LLC lowered their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a report on Friday, March 22nd. UBS Group upped their target price on Lululemon Athletica from $429.00 to $470.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Piper Sandler lowered their target price on Lululemon Athletica from $560.00 to $525.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company lowered their target price on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a report on Friday, March 22nd. Finally, Morgan Stanley lowered their target price on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $493.66.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.