Bremer Bank National Association Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Bremer Bank National Association cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,083 shares of the apparel retailer’s stock after selling 304 shares during the period. Bremer Bank National Association’s holdings in Lululemon Athletica were worth $2,414,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in Lululemon Athletica in the 2nd quarter valued at about $155,000. Legacy Trust boosted its position in Lululemon Athletica by 2.8% in the 2nd quarter. Legacy Trust now owns 10,983 shares of the apparel retailer’s stock valued at $3,281,000 after buying an additional 300 shares during the period. V Square Quantitative Management LLC boosted its position in Lululemon Athletica by 9.3% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,435 shares of the apparel retailer’s stock valued at $727,000 after buying an additional 207 shares during the period. Great Valley Advisor Group Inc. boosted its position in Lululemon Athletica by 95.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,109 shares of the apparel retailer’s stock valued at $3,020,000 after buying an additional 4,937 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Lululemon Athletica by 22.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,284 shares of the apparel retailer’s stock valued at $8,747,000 after buying an additional 5,463 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lowered their price objective on shares of Lululemon Athletica from $338.00 to $263.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. BTIG Research assumed coverage on shares of Lululemon Athletica in a research report on Wednesday, May 8th. They issued a “buy” rating and a $425.00 price objective for the company. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Citigroup cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $415.00 to $300.00 in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $404.26.

Lululemon Athletica Price Performance

Lululemon Athletica stock traded down $1.46 during mid-day trading on Wednesday, reaching $240.49. 1,152,259 shares of the company traded hands, compared to its average volume of 2,086,180. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm’s fifty day moving average is $285.13 and its two-hundred day moving average is $356.80.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 earnings per share. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.22 earnings per share for the current year.

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