CIBC Asset Management Inc Purchases 1,019 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

CIBC Asset Management Inc increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,291 shares of the apparel retailer's stock after purchasing an additional 1,019 shares during the quarter. CIBC Asset Management Inc's holdings in Lululemon Athletica were worth $14,260,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Shepherd Financial Partners LLC acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $953,000. Investment Partners Asset Management Inc. bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $275,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Lululemon Athletica by 198.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer's stock worth $1,844,000 after acquiring an additional 4,564 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer's stock worth $28,070,000 after acquiring an additional 34,704 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in Lululemon Athletica by 876.8% during the 3rd quarter. Rakuten Securities Inc. now owns 2,022 shares of the apparel retailer's stock worth $549,000 after acquiring an additional 1,815 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Down 1.9 %

LULU traded down $6.85 during trading on Friday, hitting $358.97. 1,400,060 shares of the company traded hands, compared to its average volume of 1,493,499. The firm has a market cap of $43.72 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The stock's fifty day moving average is $388.35 and its 200 day moving average is $324.60. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 earnings per share. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company's stock, valued at $5,040,456.66. This represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Analyst Ratings Changes

LULU has been the topic of a number of research reports. Jefferies Financial Group reissued an "underperform" rating and set a $220.00 target price on shares of Lululemon Athletica in a report on Monday, December 2nd. Piper Sandler upped their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Needham & Company LLC raised shares of Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 price objective on the stock in a research note on Friday, January 10th. Finally, Sanford C. Bernstein raised shares of Lululemon Athletica from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $399.14.

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.