SYSTM Wealth Solutions LLC Acquires 192 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

SYSTM Wealth Solutions LLC lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,319 shares of the apparel retailer’s stock after acquiring an additional 192 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Lululemon Athletica were worth $1,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LULU. Value Star Asset Management Hong Kong Ltd grew its position in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after buying an additional 4,630,466 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Lululemon Athletica by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after buying an additional 2,369,119 shares in the last quarter. Norges Bank bought a new position in shares of Lululemon Athletica during the 4th quarter worth $236,378,000. Northern Trust Corp grew its position in shares of Lululemon Athletica by 32.7% during the 4th 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, Public Employees Retirement Association of Colorado grew its position in shares of Lululemon Athletica by 2,485.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 238,664 shares of the apparel retailer’s stock worth $122,027,000 after buying an additional 229,433 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 1.2 %

Shares of NASDAQ:LULU opened at $268.41 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The company has a market capitalization of $33.55 billion, a PE ratio of 21.52, a PEG ratio of 1.38 and a beta of 1.25. The business has a 50 day moving average of $261.01 and a two-hundred day moving average of $321.31.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company posted $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

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

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LULU shares. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Lululemon Athletica in a research report on Monday, August 26th. Wedbush cut their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. UBS Group cut their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Barclays cut their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Finally, Sanford C. Bernstein cut their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $354.94.

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.