Arkadios Wealth Advisors Increases Stock Position in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Arkadios Wealth Advisors increased its stake in lululemon athletica by 120.7%, owning 6,030 shares worth approximately $1.7 million at the end of the last quarter.
• Several institutional investors have also raised their positions in lululemon, with stock ownership by hedge funds and institutional investors now standing at 85.20%.
• Brokerages have recently adjusted their target prices for lululemon, with an average target price now at $333.57 and a consensus rating of "Moderate Buy."

Arkadios Wealth Advisors boosted its holdings in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 120.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,030 shares of the apparel retailer's stock after purchasing an additional 3,298 shares during the quarter. Arkadios Wealth Advisors' holdings in lululemon athletica were worth $1,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LULU. Twin Capital Management Inc. lifted its holdings in shares of lululemon athletica by 58.3% in the 1st quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock valued at $1,041,000 after buying an additional 1,354 shares during the period. Narwhal Capital Management grew its stake in shares of lululemon athletica by 262.7% during the 1st quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after purchasing an additional 13,600 shares during the period. Sawgrass Asset Management LLC purchased a new position in shares of lululemon athletica in the 1st quarter valued at about $9,209,000. Flossbach Von Storch SE increased its holdings in shares of lululemon athletica by 10.3% in the 1st quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock valued at $396,818,000 after purchasing an additional 130,565 shares in the last quarter. Finally, Bender Robert & Associates lifted its stake in shares of lululemon athletica by 18.5% in the first quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock valued at $12,727,000 after purchasing an additional 7,028 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LULU. Truist Financial dropped their target price on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a report on Friday, June 6th. Robert W. Baird lowered their target price on lululemon athletica from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Citigroup cut their price target on lululemon athletica from $325.00 to $270.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Morgan Stanley restated an "equal weight" rating and set a $280.00 target price (down from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. Finally, BTIG Research cut their price target on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $333.57.

lululemon athletica Price Performance

NASDAQ:LULU opened at $193.33 on Friday. The firm has a 50-day moving average of $248.66 and a two-hundred day moving average of $299.85. The stock has a market cap of $23.17 billion, a P/E ratio of 13.10, a PEG ratio of 1.71 and a beta of 1.17. lululemon athletica inc. has a 1-year low of $191.44 and a 1-year high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that lululemon athletica inc. will post 14.36 earnings per share for the current year.

Insider Activity at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the sale, the chief executive officer owned 110,564 shares in the company, valued at $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% of the company's stock.

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.

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