Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) Director Martha A. M. Morfitt purchased 700 shares of the business's stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Lululemon Athletica Trading Up 0.3 %
Shares of NASDAQ:LULU opened at $390.65 on Friday. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The business's fifty day simple moving average is $458.01 and its 200-day simple moving average is $441.95. The company has a market capitalization of $49.30 billion, a PE ratio of 31.99, a P/E/G ratio of 1.37 and a beta of 1.33.
Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (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 business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business posted $4.40 EPS. The business's revenue was up 15.6% compared to the same quarter last year. Research analysts predict that Lululemon Athletica Inc. will post 14.17 EPS for the current year.
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Lululemon Athletica declared that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on Lululemon Athletica from $520.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, January 5th. Oppenheimer raised their price objective on Lululemon Athletica from $450.00 to $540.00 and gave the company an "outperform" rating in a research note on Friday, December 8th. Guggenheim lowered their price objective on Lululemon Athletica from $550.00 to $525.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 22nd. Finally, Roth Capital raised their price objective on Lululemon Athletica from $450.00 to $540.00 and gave the company an "outperform" rating in a research note on Friday, December 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $493.66.
Get Our Latest Report on LULU
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC purchased a new position in Lululemon Athletica during the 1st quarter worth $2,696,000. Panagora Asset Management Inc. grew its stake in Lululemon Athletica by 48.4% during the 1st quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer's stock worth $602,000 after buying an additional 537 shares during the last quarter. Yousif Capital Management LLC grew its stake in Lululemon Athletica by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer's stock worth $1,469,000 after buying an additional 100 shares during the last quarter. Raymond James Trust N.A. grew its stake in Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer's stock worth $457,000 after buying an additional 76 shares during the last quarter. Finally, Prudential PLC purchased a new position in Lululemon Athletica during the 1st quarter worth $774,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.
About Lululemon Athletica
(
Get Free Report)
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.
Further Reading
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