lululemon athletica inc. (NASDAQ:LULU) Shares Acquired by First Foundation Advisors

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 boosted its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,120 shares of the apparel retailer's stock after buying an additional 1,239 shares during the period. 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).

Several other hedge funds also recently added to or reduced their stakes in LULU. Anderson Financial Strategies LLC purchased a new stake in shares of lululemon athletica in the fourth quarter worth about $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of lululemon athletica in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of lululemon athletica by 506.3% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of lululemon athletica in the first quarter valued at approximately $35,000. Finally, True Wealth Design LLC increased its holdings in shares of lululemon athletica by 193.0% in the fourth quarter. True Wealth Design LLC now owns 126 shares of the apparel retailer's stock valued at $48,000 after purchasing an additional 83 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LULU shares. BMO Capital Markets cut their target price on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research note on Friday, June 6th. The Goldman Sachs Group decreased their price target on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. CICC Research reiterated a "market perform" rating and set a $280.49 target price on shares of lululemon athletica in a research report on Monday, June 9th. Citigroup cut their target price on lululemon athletica from $325.00 to $270.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Finally, KeyCorp reduced their price objective on lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $333.57.

Insider Activity

In other news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction dated 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 directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

lululemon athletica Stock Performance

Shares of NASDAQ LULU traded down $2.55 during midday trading on Tuesday, reaching $214.04. 2,580,345 shares of the company's stock were exchanged, compared to its average volume of 2,895,056. lululemon athletica inc. has a 52-week low of $213.88 and a 52-week high of $423.32. The stock has a market capitalization of $25.65 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The business's fifty day moving average price is $255.63 and its two-hundred day moving average price is $303.23.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its 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 return on equity of 43.48% and a net margin of 16.82%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $2.54 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts predict that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

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.