Trueblood Wealth Management LLC Invests $358,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Trueblood Wealth Management LLC purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 700 shares of the apparel retailer’s stock, valued at approximately $358,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Great Lakes Retirement Inc. boosted its position in Lululemon Athletica by 1.1% in the fourth quarter. Great Lakes Retirement Inc. now owns 2,964 shares of the apparel retailer’s stock valued at $1,515,000 after buying an additional 31 shares in the last quarter. Columbia Trust Co 01012016 lifted its holdings in shares of Lululemon Athletica by 12.9% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,904 shares of the apparel retailer’s stock valued at $973,000 after buying an additional 217 shares during the period. Jamison Private Wealth Management Inc. raised its stake in shares of Lululemon Athletica by 3.4% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 2,349 shares of the apparel retailer’s stock valued at $1,201,000 after acquiring an additional 77 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Lululemon Athletica in the fourth quarter worth about $456,000. Finally, Simon Quick Advisors LLC lifted its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LULU. Bank of America lifted their price objective on shares of Lululemon Athletica from $450.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Morgan Stanley dropped their price target on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Evercore lifted their price objective on Lululemon Athletica from $475.00 to $540.00 and gave the company an “outperform” rating in a research note on Tuesday, December 5th. Evercore ISI dropped their price objective on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, Oppenheimer raised their target price on shares of Lululemon Athletica from $450.00 to $540.00 and gave the stock an “outperform” rating in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.66.

Lululemon Athletica Stock Up 0.3 %

NASDAQ LULU traded up $1.19 during trading hours on Thursday, hitting $390.65. 1,690,467 shares of the stock were exchanged, compared to its average volume of 1,670,560. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The company has a market cap of $49.30 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33. The stock has a 50-day moving average of $459.59 and a 200 day moving average of $442.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business earned $4.40 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a share buyback plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 1.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.