Cornerstone Wealth Group LLC Buys New Stake in lululemon athletica inc. (NASDAQ:LULU)

Cornerstone Wealth Group LLC acquired a new position in lululemon athletica inc. (NASDAQ:LULU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,443 shares of the apparel retailer's stock, valued at approximately $5,220,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. TCTC Holdings LLC purchased a new stake in lululemon athletica in the 4th quarter worth $26,000. Anderson Financial Strategies LLC purchased a new stake in lululemon athletica in the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in lululemon athletica in the 4th quarter worth $32,000. MV Capital Management Inc. increased its stake in lululemon athletica by 66.1% in the 4th quarter. MV Capital Management Inc. now owns 93 shares of the apparel retailer's stock worth $36,000 after buying an additional 37 shares in the last quarter. Finally, Garde Capital Inc. purchased a new stake in lululemon athletica in the 1st quarter worth $35,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. KeyCorp dropped their price objective on shares of lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, June 6th. Barclays dropped their price objective on shares of lululemon athletica from $276.00 to $270.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Argus downgraded shares of lululemon athletica from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Needham & Company LLC dropped their price objective on shares of lululemon athletica from $366.00 to $317.00 and set a "buy" rating for the company in a report on Friday, June 6th. Finally, Robert W. Baird dropped their price objective on shares of lululemon athletica from $350.00 to $340.00 and set an "outperform" rating for the company in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $340.26.

lululemon athletica Trading Up 1.5%

Shares of NASDAQ:LULU traded up $3.44 on Friday, hitting $235.02. 6,198,966 shares of the company were exchanged, compared to its average volume of 2,297,278. lululemon athletica inc. has a 1-year low of $219.97 and a 1-year high of $423.32. The stock's 50 day moving average price is $279.51 and its 200 day moving average price is $327.29. The firm has a market capitalization of $28.17 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26.

lululemon athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $2.54 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

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.