Outlook Wealth Advisors LLC Cuts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Outlook Wealth Advisors LLC reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,322 shares of the apparel retailer’s stock after selling 108 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Lululemon Athletica were worth $516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Advisors LLC increased its holdings in shares of Lululemon Athletica by 31.3% in the 1st quarter. Strategic Advisors LLC now owns 4,544 shares of the apparel retailer’s stock worth $1,775,000 after purchasing an additional 1,083 shares in the last quarter. RBA Wealth Management LLC raised its position in Lululemon Athletica by 4.0% in the 1st quarter. RBA Wealth Management LLC now owns 9,315 shares of the apparel retailer’s stock worth $3,639,000 after buying an additional 358 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Lululemon Athletica by 16.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,882 shares of the apparel retailer’s stock valued at $735,000 after acquiring an additional 267 shares during the period. Norden Group LLC purchased a new stake in shares of Lululemon Athletica during the 1st quarter valued at about $2,412,000. Finally, Valeo Financial Advisors LLC grew its stake in shares of Lululemon Athletica by 110.0% in the first quarter. Valeo Financial Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $1,415,000 after acquiring an additional 1,898 shares during the period. Institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. KeyCorp cut their target price on shares of Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Raymond James increased their target price on Lululemon Athletica from $495.00 to $520.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. Evercore ISI cut their price target on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. TD Cowen lowered their price objective on shares of Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, Sanford C. Bernstein dropped their price objective on shares of Lululemon Athletica from $430.00 to $384.00 and set a “market perform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $481.96.

Lululemon Athletica Stock Performance

LULU traded up $4.70 during trading on Friday, reaching $364.70. 1,234,535 shares of the company traded hands, compared to its average volume of 2,023,414. The company has a market cap of $45.96 billion, a P/E ratio of 29.87, a PEG ratio of 1.27 and a beta of 1.30. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The firm has a fifty day simple moving average of $410.57 and a 200 day simple moving average of $438.25.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $4.40 earnings per share. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.