Truvestments Capital LLC Purchases 846 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Truvestments Capital LLC lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 687.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 969 shares of the apparel retailer’s stock after purchasing an additional 846 shares during the period. Truvestments Capital LLC’s holdings in Lululemon Athletica were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LULU. Vanguard Group Inc. lifted its stake in Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after acquiring an additional 2,369,119 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Lululemon Athletica by 51,219.6% during the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock valued at $351,868,000 after purchasing an additional 686,855 shares in the last quarter. Norges Bank bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $236,378,000. Northern Trust Corp raised its stake in Lululemon Athletica by 32.7% in the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Lululemon Athletica by 61.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock worth $334,072,000 after buying an additional 249,232 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $357.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 13th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and upped their target price for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Oppenheimer reissued an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 6th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $416.26.

Lululemon Athletica Price Performance

NASDAQ LULU traded up $6.18 during midday trading on Friday, hitting $253.50. 4,121,392 shares of the company traded hands, compared to its average volume of 2,115,246. Lululemon Athletica Inc. has a 52 week low of $245.59 and a 52 week high of $516.39. The company’s 50-day simple moving average is $300.18 and its 200-day simple moving average is $377.32. The company has a market cap of $31.69 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.28 earnings per share. On average, research analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has approved a share repurchase plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.