Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 43.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,498 shares of the apparel retailer's stock after buying an additional 7,768 shares during the period. Lululemon Athletica makes up 1.9% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 24th largest holding. Sierra Summit Advisors LLC's holdings in Lululemon Athletica were worth $7,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidemark LLC purchased a new position in Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the 4th quarter valued at approximately $26,000. Benjamin Edwards Inc. lifted its position in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer's stock worth $27,000 after acquiring an additional 44 shares during the period. Riverview Trust Co purchased a new position in shares of Lululemon Athletica in the 1st quarter valued at approximately $29,000. Finally, Larson Financial Group LLC increased its holdings in shares of Lululemon Athletica by 78.2% in the second 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

A number of research firms recently weighed in on LULU. TD Cowen lowered their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Wells Fargo & Company dropped their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Friday, August 23rd. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $329.00 to $326.00 and set an "overweight" rating for the company in a research report on Sunday, September 1st. Robert W. Baird cut their target price on Lululemon Athletica from $470.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. Finally, KeyCorp decreased their price target on Lululemon Athletica from $415.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $354.94.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares of the company's stock, valued at approximately $23,379,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

Lululemon Athletica Stock Down 0.5 %

Shares of NASDAQ LULU traded down $1.46 during midday trading on Monday, hitting $265.30. The stock had a trading volume of 1,360,071 shares, compared to its average volume of 2,129,928. The company has a fifty day moving average price of $262.01 and a 200 day moving average price of $324.07. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.38 and a beta of 1.25. 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 released its quarterly earnings data 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 net margin of 16.34% and a return on equity of 42.59%. 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 previous year, the firm earned $2.68 earnings per share. Lululemon Athletica's revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

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