Calvin Mcdonald Buys 4,000 Shares of Lululemon Athletica Inc. (NASDAQ:LULU) Stock

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) CEO Calvin Mcdonald bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lululemon Athletica Stock Down 0.7 %

Lululemon Athletica stock traded down $1.81 during midday trading on Thursday, hitting $253.70. 1,936,660 shares of the stock were exchanged, compared to its average volume of 2,141,210. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock has a market capitalization of $31.71 billion, a PE ratio of 20.42, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a fifty day simple moving average of $268.50 and a two-hundred day simple moving average of $334.85.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company earned $2.68 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lululemon Athletica Inc. will post 13.9 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidemark LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at $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 valued at $27,000 after acquiring an additional 44 shares during the period. Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the 1st quarter worth about $29,000. Finally, Larson Financial Group LLC raised its holdings in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 43 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LULU has been the topic of a number of research analyst reports. Sanford C. Bernstein decreased their price target on Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating on the stock in a research note on Friday, August 30th. Raymond James decreased their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an "outperform" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Citigroup decreased their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, August 22nd. Finally, Evercore ISI reissued an "outperform" rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $354.94.

Lululemon Athletica Company 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.

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