Umpqua Bank Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Umpqua Bank lifted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,115 shares of the apparel retailer’s stock after buying an additional 139 shares during the period. Umpqua Bank’s holdings in Lululemon Athletica were worth $632,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Oxbow Advisors LLC bought a new stake in shares of Lululemon Athletica in the second quarter worth approximately $3,735,000. Great Lakes Advisors LLC boosted its holdings in Lululemon Athletica by 310.7% in the second quarter. Great Lakes Advisors LLC now owns 17,693 shares of the apparel retailer’s stock worth $5,285,000 after purchasing an additional 13,385 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in Lululemon Athletica by 2.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 21,374 shares of the apparel retailer’s stock valued at $6,384,000 after buying an additional 467 shares during the last quarter. Narwhal Capital Management purchased a new position in shares of Lululemon Athletica in the 2nd quarter worth $203,000. Finally, Candriam S.C.A. boosted its stake in shares of Lululemon Athletica by 38.8% in the 2nd quarter. Candriam S.C.A. now owns 117,861 shares of the apparel retailer’s stock worth $35,203,000 after buying an additional 32,928 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought 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 owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the subject of a number of research reports. Raymond James reduced their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Oppenheimer reissued an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a report on Thursday, June 6th. Bank of America cut their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Stifel Nicolaus dropped their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, BMO Capital Markets reduced their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $354.94.

Lululemon Athletica Stock Performance

LULU stock opened at $253.84 on Friday. The firm has a fifty day moving average price of $266.51 and a 200 day moving average price of $332.15. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a market cap of $31.73 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $2.68 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Lululemon Athletica 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.