Zacks Investment Management Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Zacks Investment Management cut its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 83.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,597 shares of the apparel retailer’s stock after selling 8,188 shares during the quarter. Zacks Investment Management’s holdings in Lululemon Athletica were worth $433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. National Bank of Canada FI grew its holdings in shares of Lululemon Athletica by 77.4% in the third quarter. National Bank of Canada FI now owns 133,609 shares of the apparel retailer’s stock valued at $36,255,000 after purchasing an additional 58,298 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in Lululemon Athletica by 3.1% during the third quarter. iA Global Asset Management Inc. now owns 13,371 shares of the apparel retailer’s stock worth $3,628,000 after buying an additional 406 shares during the period. EP Wealth Advisors LLC boosted its stake in Lululemon Athletica by 14.6% during the third quarter. EP Wealth Advisors LLC now owns 2,826 shares of the apparel retailer’s stock worth $767,000 after buying an additional 360 shares during the period. Wahed Invest LLC boosted its stake in Lululemon Athletica by 10.7% during the third quarter. Wahed Invest LLC now owns 2,931 shares of the apparel retailer’s stock worth $795,000 after buying an additional 284 shares during the period. Finally, Weiss Asset Management LP purchased a new position in Lululemon Athletica during the third quarter worth $1,863,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were 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. This represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Stock Down 1.9 %

Shares of Lululemon Athletica stock opened at $397.10 on Wednesday. The firm has a market capitalization of $48.75 billion, a P/E ratio of 28.67, a PEG ratio of 2.87 and a beta of 1.23. The company has a 50 day moving average price of $308.46 and a 200 day moving average price of $288.72. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.53 EPS. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on LULU shares. TD Cowen dropped their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Truist Financial lifted their price objective on shares of Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $438.00 price objective (up from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Evercore ISI lifted their price objective on shares of Lululemon Athletica from $300.00 to $355.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Bank of America lowered their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.