Lululemon Athletica Target of Unusually High Options Trading (NASDAQ:LULU)

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Lululemon Athletica inc. (NASDAQ:LULU) was the target of some unusual options trading on Thursday. Stock traders bought 39,057 put options on the company. This is an increase of approximately 615% compared to the typical volume of 5,460 put options.

LULU has been the subject of a number of recent analyst reports. Macquarie raised Lululemon Athletica from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. BidaskClub raised Lululemon Athletica from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Jefferies Financial Group lowered Lululemon Athletica to a “hold” rating and upped their price target for the company from $156.00 to $175.00 in a research report on Thursday. Credit Suisse Group upped their price target on Lululemon Athletica from $190.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Bank of America upped their price target on Lululemon Athletica from $185.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Eleven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $187.07.

Shares of NASDAQ:LULU opened at $174.52 on Friday. Lululemon Athletica has a 52-week low of $110.71 and a 52-week high of $182.89. The company has a market capitalization of $22.38 billion, a PE ratio of 45.45, a PEG ratio of 2.02 and a beta of 0.60.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Lululemon Athletica had a return on equity of 38.60% and a net margin of 14.77%. The company had revenue of $782.30 million during the quarter, compared to analyst estimates of $755.92 million. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts expect that Lululemon Athletica will post 4.6 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a share buyback plan on Wednesday, March 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Lululemon Athletica news, insider Michelle Sun Choe sold 6,170 shares of the company’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 completion of the transaction, the insider now owns 11,294 shares of the company’s stock, valued at approximately $1,930,370.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $166.54, for a total value of $3,197,401.46. Following the transaction, the executive vice president now directly owns 18,019 shares of the company’s stock, valued at approximately $3,000,884.26. The disclosure for this sale can be found here. Insiders have sold a total of 519,344 shares of company stock valued at $79,873,942 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Stormborn Capital Management LLC bought a new position in Lululemon Athletica during the 1st quarter valued at approximately $4,097,000. Belpointe Asset Management LLC increased its position in Lululemon Athletica by 18.5% during the 1st quarter. Belpointe Asset Management LLC now owns 1,825 shares of the apparel retailer’s stock valued at $299,000 after buying an additional 285 shares in the last quarter. Meridian Wealth Management LLC bought a new position in Lululemon Athletica during the 1st quarter valued at approximately $25,000. Ocean Capital Management LLC increased its position in Lululemon Athletica by 153.9% during the 1st quarter. Ocean Capital Management LLC now owns 6,751 shares of the apparel retailer’s stock valued at $1,106,000 after buying an additional 4,092 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in Lululemon Athletica during the 1st quarter valued at approximately $323,000. 80.78% of the stock is owned by institutional investors.

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Lululemon Athletica Company Profile

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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