WealthPlan Investment Management LLC Raises Stock Holdings in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• WealthPlan Investment Management LLC has increased its holdings in lululemon athletica by 26.9%, owning a total of 7,647 shares worth approximately $2.17 million.
• In the recent quarter, various institutional investors made significant changes to their positions, with over 85% of the company's stock owned by these entities.
• Analyst ratings have shifted, with price targets on lululemon athletica shares reduced, leading to a consensus of a "Moderate Buy" with an average target price of $329.91.

WealthPlan Investment Management LLC increased its holdings in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,647 shares of the apparel retailer's stock after buying an additional 1,622 shares during the quarter. WealthPlan Investment Management LLC's holdings in lululemon athletica were worth $2,165,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LULU. Ontario Teachers Pension Plan Board grew its holdings in lululemon athletica by 82.3% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,330 shares of the apparel retailer's stock worth $2,358,000 after acquiring an additional 3,760 shares in the last quarter. Deutsche Bank AG grew its holdings in lululemon athletica by 2.4% during the 1st quarter. Deutsche Bank AG now owns 510,057 shares of the apparel retailer's stock worth $144,377,000 after acquiring an additional 11,862 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in lululemon athletica by 33.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,106 shares of the apparel retailer's stock worth $305,000 after acquiring an additional 280 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in lululemon athletica by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 754,208 shares of the apparel retailer's stock worth $213,486,000 after acquiring an additional 34,795 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of lululemon athletica during the first quarter valued at about $4,040,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

lululemon athletica Trading Down 1.2%

LULU traded down $2.32 on Monday, hitting $187.11. The company had a trading volume of 1,347,355 shares, compared to its average volume of 2,600,602. The firm has a market cap of $22.42 billion, a P/E ratio of 12.68, a PEG ratio of 1.61 and a beta of 1.16. lululemon athletica inc. has a 1 year low of $186.52 and a 1 year high of $423.32. The company's fifty day moving average price is $236.47 and its 200 day moving average price is $292.36.

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

Wall Street Analyst Weigh In

Several analysts have commented on LULU shares. Needham & Company LLC decreased their price target on shares of lululemon athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Jefferies Financial Group decreased their price objective on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research report on Friday, June 6th. Truist Financial decreased their price objective on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Barclays decreased their price objective on shares of lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus reduced their price target on shares of lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, June 6th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $327.15.

Insider Transactions at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was 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 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 through 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.