Franklin Resources Inc. Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Franklin Resources Inc. lessened its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 75.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,267 shares of the apparel retailer’s stock after selling 488,304 shares during the period. Franklin Resources Inc.’s holdings in Lululemon Athletica were worth $45,671,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Synovus Financial Corp grew its stake in Lululemon Athletica by 46.4% in the third quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock worth $1,137,000 after purchasing an additional 1,329 shares in the last quarter. Tidal Investments LLC grew its stake in Lululemon Athletica by 19.0% in the third quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock worth $3,095,000 after purchasing an additional 1,822 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Lululemon Athletica in the third quarter worth approximately $249,000. Sfmg LLC bought a new position in Lululemon Athletica in the third quarter worth approximately $2,984,000. Finally, World Investment Advisors LLC bought a new position in Lululemon Athletica in the third quarter worth approximately $15,038,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the sale, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $390.59 on Wednesday. The stock has a 50-day simple moving average of $323.44 and a two-hundred day simple moving average of $292.55. The firm has a market capitalization of $47.57 billion, a P/E ratio of 28.20, a PEG ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.53 EPS. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on LULU. UBS Group increased their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. TD Cowen dropped their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Guggenheim increased their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on Lululemon Athletica from $345.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Piper Sandler increased their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.