Tobam Boosts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Tobam raised its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 59.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 393 shares of the apparel retailer’s stock after purchasing an additional 146 shares during the period. Tobam’s holdings in Lululemon Athletica were worth $107,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LULU. XTX Topco Ltd lifted its stake in Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after buying an additional 6,562 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after acquiring an additional 3,721 shares during the last quarter. Brookstone Capital Management increased its position in Lululemon Athletica by 202.8% during the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Lululemon Athletica by 4.0% in the 1st quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock valued at $3,250,000 after purchasing an additional 321 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LULU has been the topic of several recent analyst reports. TD Cowen reduced their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Wedbush dropped their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Telsey Advisory Group lowered their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a report on Monday, August 26th. 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 report on Friday, August 30th. Finally, Barclays cut their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Two investment 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.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $354.55.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased 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 owns 89,922 shares of the company’s stock, valued at $23,379,720. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought 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 in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

LULU opened at $273.58 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The company has a market capitalization of $33.59 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The business has a 50 day moving average price of $258.51 and a two-hundred day moving average price of $301.06.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS 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%. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. Equities analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

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.