Lederer & Associates Investment Counsel CA Buys New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

Lederer & Associates Investment Counsel CA acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,175 shares of the apparel retailer's stock, valued at approximately $948,000.

Other hedge funds also recently bought and sold shares of the company. Absher Wealth Management LLC purchased a new position in shares of Lululemon Athletica during the 2nd quarter valued at $1,349,000. Rhumbline Advisers grew its stake in Lululemon Athletica by 2.1% in the second quarter. Rhumbline Advisers now owns 216,606 shares of the apparel retailer's stock valued at $64,700,000 after purchasing an additional 4,556 shares in the last quarter. Chilton Capital Management LLC increased its position in Lululemon Athletica by 171.2% in the 2nd quarter. Chilton Capital Management LLC now owns 160 shares of the apparel retailer's stock worth $48,000 after purchasing an additional 101 shares during the last quarter. Rockline Wealth Management LLC raised its stake in shares of Lululemon Athletica by 1.3% during the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer's stock worth $990,000 after purchasing an additional 43 shares in the last quarter. Finally, United Asset Strategies Inc. acquired a new stake in shares of Lululemon Athletica during the 2nd quarter valued at about $666,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Lululemon Athletica from $416.00 to $370.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. BMO Capital Markets decreased 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 report on Thursday, June 6th. The Goldman Sachs Group lowered Lululemon Athletica from a "buy" rating to a "neutral" rating and cut their target price for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Finally, KeyCorp decreased their price target on Lululemon Athletica from $415.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.94.

Lululemon Athletica Price Performance

LULU traded down $2.57 during mid-day trading on Wednesday, hitting $255.51. The stock had a trading volume of 2,414,237 shares, compared to its average volume of 2,142,504. The stock's fifty day simple moving average is $269.49 and its 200-day simple moving average is $335.41. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share 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 firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $2.68 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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.