Gateway Investment Advisers LLC Cuts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Gateway Investment Advisers LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,099 shares of the apparel retailer’s stock after selling 5,610 shares during the period. Gateway Investment Advisers LLC’s holdings in Lululemon Athletica were worth $7,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd lifted its position in shares of 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 buying an additional 4,630,466 shares during the last quarter. Vanguard Group Inc. lifted its position in Lululemon Athletica by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the last quarter. Marshall Wace LLP boosted its stake in Lululemon Athletica by 359.4% in the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock valued at $61,084,000 after acquiring an additional 283,344 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lululemon Athletica by 38.2% in the second quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock worth $220,423,000 after purchasing an additional 203,882 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Lululemon Athletica during the first quarter worth $72,455,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $278.25 on Friday. The company has a fifty day moving average of $259.85 and a two-hundred day moving average of $299.50. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock has a market capitalization of $34.16 billion, a PE ratio of 21.50, a P/E/G ratio of 1.99 and a beta of 1.25.

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

Wall Street Analyst Weigh In

LULU has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. UBS Group dropped their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Sanford C. Bernstein decreased their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. TD Securities boosted their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus decreased their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $354.55.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated 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 directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost 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 of the company’s stock, valued at $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale 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.