Mycio Wealth Partners LLC lessened its position in Lululemon Athletica inc. (NASDAQ:LULU) by 17.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,351 shares of the apparel retailer’s stock after selling 500 shares during the quarter. Mycio Wealth Partners LLC’s holdings in Lululemon Athletica were worth $385,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in Lululemon Athletica during the 4th quarter valued at about $25,000. PRW Wealth Management LLC bought a new stake in Lululemon Athletica during the 4th quarter valued at about $34,000. Ropes Wealth Advisors LLC bought a new stake in Lululemon Athletica during the 1st quarter valued at about $48,000. Finally, Spectrum Management Group Inc. purchased a new position in Lululemon Athletica during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 80.47% of the company’s stock.
Shares of Lululemon Athletica stock opened at $173.31 on Friday. Lululemon Athletica inc. has a 52-week low of $94.20 and a 52-week high of $174.64. The company has a market capitalization of $22.69 billion, a PE ratio of 45.13, a PEG ratio of 2.07 and a beta of 0.52.
Lululemon Athletica announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Lululemon Athletica news, COO Stuart Haselden sold 49,319 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the sale, the insider now directly owns 11,294 shares in the company, valued at approximately $1,930,370.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,142,883 shares of company stock worth $316,468,220. Insiders own 0.32% of the company’s stock.
A number of research analysts have commented on the stock. BidaskClub raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. UBS Group raised their target price on shares of Lululemon Athletica from $147.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 target price on the stock in a research report on Monday, April 1st. Argus raised their target price on shares of Lululemon Athletica to $195.00 and gave the company a “buy” rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus raised their target price on shares of Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Lululemon Athletica has an average rating of “Buy” and a consensus target price of $167.91.
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Lululemon Athletica Profile
lululemon athletica, Inc engages in the design, distribution, and retail of athletic apparel and accessories. It company operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize athletic wear for female youth.
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