Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 311,187 shares of the apparel retailer’s stock after selling 1,006 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Lululemon Athletica were worth $84,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LULU. Larson Financial Group LLC boosted its stake in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares in the last quarter. Paladin Wealth LLC acquired a new position in shares of Lululemon Athletica during the third quarter worth about $29,000. Versant Capital Management Inc raised its holdings in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Lululemon Athletica in the second quarter valued at about $33,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LULU shares. JPMorgan Chase & Co. lowered their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Telsey Advisory Group reduced their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a report on Monday, August 26th. Citigroup lowered their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Stifel Nicolaus cut their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $330.26 on Friday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The business’s 50-day moving average is $283.50 and its two-hundred day moving average is $290.42. The firm has a market capitalization of $40.55 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $2.68 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Company 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.