Absher Wealth Management LLC Raises Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Absher Wealth Management LLC grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 47.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,661 shares of the apparel retailer’s stock after acquiring an additional 2,145 shares during the period. Absher Wealth Management LLC’s holdings in Lululemon Athletica were worth $1,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LULU. Value Star Asset Management Hong Kong Ltd lifted its holdings 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 purchasing an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC raised its stake in Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after buying an additional 894,531 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Lululemon Athletica by 359.4% in the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after acquiring an additional 283,344 shares during the last quarter. Swedbank AB increased its holdings in shares of Lululemon Athletica by 151.0% during the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock valued at $99,744,000 after acquiring an additional 221,112 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Lululemon Athletica by 38.2% in the 2nd 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. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 1.5 %

Shares of LULU traded up $4.55 during trading hours on Friday, reaching $302.45. 289,641 shares of the stock traded hands, compared to its average volume of 2,095,643. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a market cap of $37.13 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company’s 50-day moving average price is $273.47 and its two-hundred day moving average price is $293.07.

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

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents 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 corporate insiders.

Wall Street Analyst Weigh In

LULU has been the subject of a number of analyst reports. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. KeyCorp lowered their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Guggenheim reduced their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a report on Friday, August 30th. UBS Group lowered their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, Morgan Stanley reduced their price objective on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.55.

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.