Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 40.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,250 shares of the apparel retailer’s stock after purchasing an additional 361 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Lululemon Athletica were worth $373,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Valley National Advisers Inc. raised its position in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC acquired a new stake in Lululemon Athletica during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth about $26,000. Benjamin Edwards Inc. grew its position in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Lululemon Athletica during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 1.7 %

LULU stock opened at $237.49 on Thursday. The business’s 50-day moving average is $290.45 and its 200 day moving average is $364.26. The stock has a market cap of $29.69 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. The business 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 company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 EPS. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a stock buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LULU has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating for the company in a report on Thursday, June 6th. Robert W. Baird dropped their price target on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $405.00 to $425.00 in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.26.

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.