Lululemon Athletica Inc. (NASDAQ:LULU) Stock Position Reduced by EULAV Asset Management

EULAV Asset Management cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,000 shares of the apparel retailer's stock after selling 3,500 shares during the quarter. EULAV Asset Management's holdings in Lululemon Athletica were worth $5,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its position in shares of Lululemon Athletica by 24.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,500 shares of the apparel retailer's stock worth $3,711,000 after acquiring an additional 1,871 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in Lululemon Athletica by 239.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,515 shares of the apparel retailer's stock worth $1,373,000 after purchasing an additional 2,479 shares during the period. Bessemer Group Inc. lifted its position in Lululemon Athletica by 296.5% in the first quarter. Bessemer Group Inc. now owns 10,182 shares of the apparel retailer's stock valued at $3,977,000 after purchasing an additional 7,614 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in Lululemon Athletica by 115.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 1,354 shares of the apparel retailer's stock valued at $529,000 after buying an additional 726 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Lululemon Athletica during the 1st quarter valued at approximately $187,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU traded up $6.46 during trading on Wednesday, hitting $308.31. The company's stock had a trading volume of 1,403,498 shares, compared to its average volume of 2,092,015. The company has a market capitalization of $37.85 billion, a PE ratio of 23.33, a P/E/G ratio of 2.33 and a beta of 1.24. The business has a 50 day moving average price of $288.66 and a two-hundred day moving average price of $288.78. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.22. The business 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%. The business's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 EPS. As a group, equities analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of 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 4.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business's stock in a transaction 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 owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of research reports. Barclays decreased their price objective on Lululemon Athletica from $263.00 to $261.00 and set an "equal weight" rating for the company in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. cut their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an "overweight" rating for the company in a report on Thursday, July 25th. Stifel Nicolaus dropped their price target on Lululemon Athletica from $416.00 to $370.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Finally, Sanford C. Bernstein lowered their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a report on Friday, August 30th. 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 stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.13.

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.