Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Aljian Capital Management LLC

Aljian Capital Management LLC trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,461 shares of the apparel retailer’s stock after selling 221 shares during the period. Lululemon Athletica accounts for 0.7% of Aljian Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Aljian Capital Management LLC’s holdings in Lululemon Athletica were worth $2,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC grew its holdings in shares of Lululemon Athletica by 63.8% during the 2nd quarter. Calamos Wealth Management LLC now owns 26,659 shares of the apparel retailer’s stock valued at $7,963,000 after acquiring an additional 10,380 shares in the last quarter. Independence Bank of Kentucky purchased a new position in shares of Lululemon Athletica during the 2nd quarter valued at $498,000. Community Financial Services Group LLC grew its holdings in shares of Lululemon Athletica by 12.2% during the 2nd quarter. Community Financial Services Group LLC now owns 6,891 shares of the apparel retailer’s stock valued at $2,058,000 after acquiring an additional 749 shares in the last quarter. First National Bank of Hutchinson grew its holdings in shares of Lululemon Athletica by 78.6% during the 2nd quarter. First National Bank of Hutchinson now owns 1,043 shares of the apparel retailer’s stock valued at $312,000 after acquiring an additional 459 shares in the last quarter. Finally, Value Star Asset Management Hong Kong Ltd grew its holdings in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Up 1.9 %

NASDAQ LULU traded up $5.10 during trading hours on Friday, hitting $268.55. The company’s stock had a trading volume of 1,605,403 shares, compared to its average volume of 2,081,792. The stock has a fifty day moving average of $276.40 and a 200 day moving average of $346.04. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The firm has a market capitalization of $33.57 billion, a P/E ratio of 21.54, a PEG ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 earnings per share. On average, analysts predict that Lululemon Athletica Inc. will post 14.22 earnings per share for the current year.

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

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. BMO Capital Markets reduced their price objective on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research note on Thursday, July 25th. Morgan Stanley cut their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Barclays cut their target price on shares of Lululemon Athletica from $338.00 to $263.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein upped their price objective on shares of Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $390.35.

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.