First Foundation Advisors Grows Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• First Foundation Advisors increased its stock position in lululemon athletica inc. by 7.8%, acquiring a total of 17,120 shares valued at approximately $4.85 million.
• In the last quarter, other hedge funds also adjusted their holdings, with Dnca Finance increasing its stake by 15.1% and Carolinas Wealth Consulting LLC raising its holdings by 30.7%.
• lululemon athletica's quarterly earnings matched estimates at $2.60 EPS, with revenues reaching $2.37 billion, marking a 7.3% increase year-over-year.

First Foundation Advisors raised its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,120 shares of the apparel retailer's stock after acquiring an additional 1,239 shares during the quarter. First Foundation Advisors' holdings in lululemon athletica were worth $4,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new position in lululemon athletica in the first quarter worth $25,000. Cornerstone Planning Group LLC grew its position in lululemon athletica by 506.3% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Anderson Financial Strategies LLC purchased a new position in lululemon athletica in the fourth quarter worth $30,000. Garde Capital Inc. purchased a new position in lululemon athletica in the first quarter worth $35,000. Finally, CENTRAL TRUST Co grew its position in lululemon athletica by 154.9% in the first quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock worth $37,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 85.20% of the company's stock.

lululemon athletica Stock Down 3.6%

lululemon athletica stock traded down $7.20 during midday trading on Friday, reaching $193.33. The stock had a trading volume of 4,650,503 shares, compared to its average volume of 2,592,818. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. The company has a fifty day moving average of $251.01 and a 200 day moving average of $301.20. lululemon athletica inc. has a 52-week low of $191.44 and a 52-week high of $423.32.

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

Analysts Set New Price Targets

Several research firms have issued reports on LULU. William Blair restated an "outperform" rating on shares of lululemon athletica in a research report on Thursday, April 3rd. Citigroup lowered their price objective on shares of lululemon athletica from $325.00 to $270.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Needham & Company LLC cut their price target on lululemon athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Robert W. Baird decreased 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. Finally, Stifel Nicolaus decreased their target price on shares of lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $333.57.

Insider Activity at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer owned 110,564 shares of the company's stock, valued at $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company's stock.

About lululemon athletica

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.