Aviance Capital Partners LLC Acquires New Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Aviance Capital Partners LLC acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,805 shares of the apparel retailer's stock, valued at approximately $1,575,000.

Several other hedge funds have also recently modified their holdings of LULU. Larson Financial Group LLC boosted its position in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc increased its holdings in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock valued at $31,000 after buying an additional 40 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Lululemon Athletica in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Activity

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were purchased 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 directly owns 89,922 shares of the company's stock, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares of the company's stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LULU. Jefferies Financial Group reiterated an "underperform" rating and set a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. TD Securities raised their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a "buy" rating in a report on Friday, August 30th. Piper Sandler increased their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, August 30th. Bank of America lowered their price objective on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Finally, Sanford C. Bernstein lowered their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $357.13.

Lululemon Athletica Stock Down 2.5 %

Shares of NASDAQ LULU traded down $7.68 during midday trading on Tuesday, reaching $301.85. The company had a trading volume of 2,087,478 shares, compared to its average volume of 2,095,082. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The firm's fifty day moving average price is $287.57 and its 200-day moving average price is $289.16. The stock has a market cap of $37.06 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $2.68 earnings per share. The firm's revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current 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.