IPG Investment Advisors LLC Makes New $449,000 Investment in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• IPG Investment Advisors LLC has invested approximately $449,000 in lululemon athletica, purchasing 1,587 shares during the first quarter, according to their latest SEC filing.
• lululemon athletica reported $2.60 EPS for the recent quarter, meeting consensus estimates, with revenue of $2.37 billion, showing a 7.3% increase compared to the same quarter last year.
• The stock has been subject to varying target price adjustments from analysts, with estimates ranging from $200 to $405, reflecting a consensus rating of "Moderate Buy".

IPG Investment Advisors LLC purchased a new stake in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,587 shares of the apparel retailer's stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Commonwealth Equity Services LLC boosted its stake in lululemon athletica by 0.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 55,645 shares of the apparel retailer's stock worth $15,751,000 after purchasing an additional 228 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of lululemon athletica by 10.0% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 550 shares of the apparel retailer's stock worth $156,000 after acquiring an additional 50 shares during the period. Avalon Trust Co purchased a new position in shares of lululemon athletica during the 1st quarter worth $42,000. Banco Santander S.A. raised its holdings in lululemon athletica by 90.2% in the 1st quarter. Banco Santander S.A. now owns 10,962 shares of the apparel retailer's stock valued at $3,103,000 after buying an additional 5,199 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in lululemon athletica in the 1st quarter valued at about $255,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LULU shares. Piper Sandler dropped their target price on lululemon athletica from $270.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, July 29th. BMO Capital Markets cut their price target 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. 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. Stifel Nicolaus dropped their price target on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, TD Securities raised their price objective on lululemon athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, lululemon athletica has an average rating of "Moderate Buy" and an average price target of $329.91.

lululemon athletica Price Performance

NASDAQ:LULU traded down $1.71 during mid-day trading on Friday, reaching $189.43. The stock had a trading volume of 3,161,624 shares, compared to its average volume of 2,606,996. The stock has a market cap of $22.70 billion, a P/E ratio of 12.83, a PEG ratio of 1.67 and a beta of 1.16. The business's 50 day moving average is $238.95 and its 200 day moving average is $294.91. lululemon athletica inc. has a fifty-two week low of $186.52 and a fifty-two week high of $423.32.

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 for the quarter, meeting analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The firm'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 analysts expect that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Buying and Selling at lululemon athletica

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 transaction, the chief executive officer owned 110,564 shares in the company, valued at $26,058,829.16. The trade was a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

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.