Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.7% in the first quarter, Holdings Channel reports. The institutional investor owned 8,440 shares of the apparel retailer’s stock after selling 231 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Lululemon Athletica were worth $3,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Caxton Associates LP acquired a new stake in shares of Lululemon Athletica during the 1st quarter worth approximately $345,000. BOKF NA increased its holdings in Lululemon Athletica by 60.3% in the 1st quarter. BOKF NA now owns 10,931 shares of the apparel retailer’s stock valued at $4,211,000 after purchasing an additional 4,114 shares during the last quarter. Truvestments Capital LLC increased its holdings in Lululemon Athletica by 687.8% in the 1st quarter. Truvestments Capital LLC now owns 969 shares of the apparel retailer’s stock valued at $379,000 after purchasing an additional 846 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Lululemon Athletica by 362.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 121,143 shares of the apparel retailer’s stock valued at $47,325,000 after purchasing an additional 94,943 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Lululemon Athletica by 6.9% in the 1st quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock valued at $560,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 1.3 %

LULU traded down $3.42 on Tuesday, reaching $255.61. The company had a trading volume of 980,064 shares, compared to its average volume of 2,095,630. Lululemon Athletica Inc. has a 1 year low of $245.59 and a 1 year high of $516.39. The stock has a market capitalization of $31.95 billion, a PE ratio of 20.47, a P/E/G ratio of 1.26 and a beta of 1.26. The stock has a 50-day moving average price of $298.82 and a 200-day moving average price of $374.98.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. As a group, analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LULU shares. BMO Capital Markets dropped their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a report on Thursday, June 6th. TD Cowen dropped their target price on shares of Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Bank of America boosted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. Finally, BTIG Research initiated coverage on shares of Lululemon Athletica in a research note on Wednesday, May 8th. They issued a “buy” rating and a $425.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $416.26.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.