Schechter Investment Advisors LLC Decreases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Schechter Investment Advisors LLC lessened its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,422 shares of the apparel retailer’s stock after selling 62 shares during the period. Schechter Investment Advisors LLC’s holdings in Lululemon Athletica were worth $1,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jamison Private Wealth Management Inc. lifted its holdings in shares of Lululemon Athletica by 3.4% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,349 shares of the apparel retailer’s stock valued at $1,201,000 after purchasing an additional 77 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $456,000. Simon Quick Advisors LLC increased its position in shares of Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after acquiring an additional 22 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Lululemon Athletica by 22.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 1,097 shares of the apparel retailer’s stock valued at $561,000 after acquiring an additional 203 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Lululemon Athletica by 203.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,233 shares of the apparel retailer’s stock valued at $7,788,000 after acquiring an additional 10,221 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LULU. Wells Fargo & Company cut their price target on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $430.00 to $415.00 in a research report on Friday, February 9th. Piper Sandler cut their price target on Lululemon Athletica from $560.00 to $525.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Barclays cut their price target on Lululemon Athletica from $610.00 to $546.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Finally, Robert W. Baird increased their price target on Lululemon Athletica from $520.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.66.

Lululemon Athletica Stock Performance

LULU opened at $389.46 on Thursday. Lululemon Athletica Inc. has a one year low of $314.22 and a one year high of $516.39. The stock has a market capitalization of $49.15 billion, a PE ratio of 31.90, a P/E/G ratio of 1.36 and a beta of 1.33. The business’s 50 day moving average price is $459.59 and its 200 day moving average price is $442.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm posted $4.40 earnings per share. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has approved a share repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Lululemon Athletica Company 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.