Canoe Financial LP Purchases New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Canoe Financial LP acquired a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the apparel retailer’s stock, valued at approximately $1,120,000.

A number of other large investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the period. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $29,000. Versant Capital Management Inc lifted its stake in shares of Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the period. Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter worth $33,000. Finally, Dnca Finance acquired a new stake in shares of Lululemon Athletica during the second quarter worth $34,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on LULU. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. TD Cowen lowered 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 report on Tuesday, August 27th. Finally, TD Securities lifted their target price on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.55.

Lululemon Athletica Trading Up 1.7 %

NASDAQ:LULU opened at $304.15 on Monday. The stock has a 50 day simple moving average of $270.16 and a 200 day simple moving average of $293.48. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The stock has a market cap of $38.02 billion, a P/E ratio of 24.39, a PEG ratio of 2.17 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. 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 previous year, the company earned $2.68 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Lululemon Athletica 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.