Thrivent Financial for Lutherans Acquires 198,445 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Thrivent Financial for Lutherans boosted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 90.8% in the third quarter, Holdings Channel reports. The firm owned 417,047 shares of the apparel retailer’s stock after purchasing an additional 198,445 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lululemon Athletica were worth $113,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the 3rd quarter worth $29,000. Versant Capital Management Inc boosted its stake in shares of Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Lululemon Athletica in the 2nd quarter worth about $33,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Trading Down 3.1 %

Shares of NASDAQ:LULU opened at $320.01 on Friday. The company has a 50 day moving average of $286.35 and a 200 day moving average of $289.90. The stock has a market cap of $39.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.33 and a beta of 1.24. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler increased their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Sanford C. Bernstein cut their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Raymond James cut their price target on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Finally, TD Cowen cut their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $357.13.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were 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 approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

About Lululemon Athletica

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.