Azzad Asset Management Inc. ADV Grows Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Azzad Asset Management Inc. ADV grew its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,935 shares of the apparel retailer’s stock after purchasing an additional 930 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Lululemon Athletica were worth $3,266,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Moody National Bank Trust Division raised its holdings in Lululemon Athletica by 1.0% in the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares during the last quarter. Congress Wealth Management LLC DE raised its holdings in Lululemon Athletica by 2.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after acquiring an additional 30 shares during the last quarter. Graypoint LLC raised its holdings in Lululemon Athletica by 5.1% in the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after acquiring an additional 34 shares during the last quarter. William Allan Corp raised its holdings in Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after acquiring an additional 37 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in Lululemon Athletica by 50.7% in the 4th quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock worth $58,000 after acquiring an additional 38 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They issued a “buy” rating and a $425.00 price objective for the company. KeyCorp decreased their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. UBS Group decreased their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Stifel Nicolaus decreased their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Guggenheim decreased their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $355.84.

Lululemon Athletica Trading Up 0.2 %

Lululemon Athletica stock traded up $0.46 during mid-day trading on Friday, hitting $259.47. The stock had a trading volume of 7,368,662 shares, compared to its average volume of 2,135,763. The firm has a market capitalization of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.25 and a beta of 1.26. The firm’s 50 day moving average is $272.61 and its 200 day moving average is $341.27. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.23. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 14.22 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign 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.