Marshall Financial Group LLC Acquires Shares of 2,929 Lululemon Athletica Inc. (NASDAQ:LULU)

Marshall Financial Group LLC acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,929 shares of the apparel retailer’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica in the fourth quarter worth $26,000. Benjamin Edwards Inc. raised its position in Lululemon Athletica by 176.0% in the first 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. Riverview Trust Co purchased a new position in Lululemon Athletica in the first quarter worth $29,000. Finally, True Wealth Design LLC raised its position in Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

LULU has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research report on Thursday, June 6th. Evercore ISI cut their price objective on Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Wedbush upped their target price on Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. TD Securities decreased their price objective on Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Robert W. Baird decreased their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $404.26.

Lululemon Athletica Stock Performance

Shares of LULU stock traded up $1.55 during trading hours on Friday, hitting $258.10. The company had a trading volume of 2,090,234 shares, compared to its average volume of 2,093,348. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The firm has a market capitalization of $32.26 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.25 and a beta of 1.26. The firm’s fifty day moving average is $281.25 and its 200 day moving average is $352.85.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 42.64% and a net margin of 16.09%. Lululemon Athletica’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.