Great West Life Assurance Co. Can cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 4.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,538 shares of the apparel retailer’s stock after selling 4,706 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Lululemon Athletica were worth $40,948,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in LULU. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Lululemon Athletica by 153,372.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,174,485 shares of the apparel retailer’s stock valued at $17,098,543,000 after buying an additional 45,145,050 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in Lululemon Athletica during the 1st quarter worth about $279,637,000. Renaissance Technologies LLC purchased a new position in Lululemon Athletica during the 1st quarter valued at about $278,751,000. Alyeska Investment Group L.P. acquired a new position in shares of Lululemon Athletica in the 1st quarter valued at about $180,458,000. Finally, abrdn plc lifted its position in shares of Lululemon Athletica by 284.9% in the second quarter. abrdn plc now owns 669,154 shares of the apparel retailer’s stock worth $253,275,000 after purchasing an additional 495,285 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Lululemon Athletica
In related news, insider Michelle Sun Choe sold 27,981 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the sale, the insider now directly owns 3,892 shares in the company, valued at approximately $1,560,692. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.
Lululemon Athletica Trading Up 1.5 %
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a return on equity of 44.47% and a net margin of 11.40%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, sell-side analysts forecast that Lululemon Athletica Inc. will post 12.15 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on LULU shares. Sanford C. Bernstein upgraded shares of Lululemon Athletica from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $328.00 to $366.00 in a research report on Tuesday, September 5th. Piper Sandler lifted their price objective on Lululemon Athletica from $450.00 to $455.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Evercore set a $475.00 target price on Lululemon Athletica and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Barclays raised their price objective on shares of Lululemon Athletica from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Finally, StockNews.com started coverage on shares of Lululemon Athletica in a research note on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $445.94.
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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.
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