Gardner Lewis Asset Management L P Buys 1,395 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Gardner Lewis Asset Management L P grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 13.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 11,637 shares of the apparel retailer’s stock after acquiring an additional 1,395 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in Lululemon Athletica were worth $3,476,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LULU. Tidemark LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter worth about $26,000. Richardson Financial Services Inc. bought a new stake in shares of Lululemon Athletica in the fourth quarter worth about $31,000. True Wealth Design LLC raised its position in shares of Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 59 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Securities upped their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley decreased their price target on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a research note on Sunday, September 1st. Truist Financial reissued a “buy” rating and issued a $310.00 price objective on shares of Lululemon Athletica in a research report on Wednesday, August 28th. TD Cowen decreased their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Guggenheim cut their price target on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $268.41 on Wednesday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.38 and a beta of 1.25. The firm has a 50 day simple moving average of $261.01 and a 200 day simple moving average of $321.31.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the business posted $2.68 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts expect that Lululemon Athletica Inc. will post 14.03 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Lululemon Athletica Company Profile

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.