IPG Investment Advisors LLC Invests $449,000 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 bought a new stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,587 shares of the apparel retailer's stock, valued at approximately $449,000.

Several other large investors have also modified their holdings of the stock. Anderson Financial Strategies LLC acquired a new stake in lululemon athletica during the fourth quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of lululemon athletica in the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of lululemon athletica by 506.3% during the 1st 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. bought a new position in lululemon athletica during the first quarter worth $35,000. Finally, True Wealth Design LLC boosted its holdings in lululemon athletica by 193.0% in the fourth quarter. True Wealth Design LLC now owns 126 shares of the apparel retailer's stock worth $48,000 after purchasing an additional 83 shares during the period. Institutional investors own 85.20% of the company's stock.

lululemon athletica Price Performance

Shares of LULU opened at $193.33 on Monday. The firm's 50 day moving average is $248.66 and its 200-day moving average is $298.81. lululemon athletica inc. has a 12-month low of $191.44 and a 12-month high of $423.32. The stock has a market capitalization of $23.17 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.65 and a beta of 1.16.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LULU shares. Piper Sandler dropped their target price on shares of lululemon athletica from $270.00 to $200.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. TD Securities boosted their price objective on shares of lululemon athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Bank of America cut their target price on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Stifel Nicolaus decreased their target price on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Finally, BTIG Research lowered their target price 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 research 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 data from MarketBeat.com, the stock presently 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 the company's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 110,564 shares of the company's stock, valued at $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by 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.

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