Edgewood Management LLC Reduces Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Edgewood Management LLC lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,196,119 shares of the apparel retailer’s stock after selling 36,624 shares during the period. Lululemon Athletica makes up approximately 2.3% of Edgewood Management LLC’s holdings, making the stock its 21st largest holding. Edgewood Management LLC’s holdings in Lululemon Athletica were worth $867,267,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd increased its position in Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the period. River Road Asset Management LLC bought a new position in Lululemon Athletica during the 3rd quarter valued at about $79,503,000. Marshall Wace LLP raised its position in Lululemon Athletica by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after purchasing an additional 283,344 shares during the period. Finally, Swedbank AB lifted its stake in Lululemon Athletica by 151.0% in the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock worth $99,744,000 after purchasing an additional 221,112 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought 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 directly owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.

Lululemon Athletica Stock Performance

LULU stock opened at $315.09 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The firm has a market cap of $38.69 billion, a PE ratio of 24.35, a PEG ratio of 2.20 and a beta of 1.24. The firm’s 50 day moving average price is $290.83 and its 200-day moving average price is $289.10.

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

Analyst Upgrades and Downgrades

LULU has been the topic of a number of analyst reports. Citigroup cut their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Bank of America reduced their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Robert W. Baird boosted their target price on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Truist Financial raised their price target on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wedbush lowered their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Two equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

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.