KBC Group NV Cuts Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

KBC Group NV reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 49.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,430 shares of the apparel retailer's stock after selling 34,029 shares during the quarter. KBC Group NV's holdings in Lululemon Athletica were worth $9,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Lululemon Athletica in the 3rd quarter worth $1,051,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Lululemon Athletica by 15.8% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,535 shares of the apparel retailer's stock valued at $417,000 after acquiring an additional 209 shares in the last quarter. RPG Investment Advisory LLC bought a new position in shares of Lululemon Athletica in the third quarter worth about $7,599,000. Victory Capital Management Inc. grew its position in shares of Lululemon Athletica by 11.3% during the third quarter. Victory Capital Management Inc. now owns 103,577 shares of the apparel retailer's stock worth $28,106,000 after purchasing an additional 10,499 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in Lululemon Athletica by 88.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,840 shares of the apparel retailer's stock valued at $1,856,000 after purchasing an additional 3,212 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company's stock in a transaction 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 sale, the insider now directly owns 6,198 shares of the company's stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Calvin Mcdonald acquired 4,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on LULU shares. Wedbush lowered their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a report on Wednesday, August 28th. JPMorgan Chase & Co. decreased their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. Citigroup cut their price objective on Lululemon Athletica from $300.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, August 22nd. Truist Financial boosted their target price on Lululemon Athletica from $310.00 to $360.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Raymond James cut their price target on Lululemon Athletica from $350.00 to $325.00 and set an "outperform" rating for the company in a report on Monday, September 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $357.13.

Lululemon Athletica Stock Down 3.1 %

Shares of LULU stock traded down $10.25 on Friday, hitting $320.01. The stock had a trading volume of 1,264,651 shares, compared to its average volume of 1,886,131. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The business has a 50 day moving average price of $286.35 and a 200 day moving average price of $289.90. The company has a market cap of $39.29 billion, a PE ratio of 24.73, a P/E/G ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (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 analysts' expectations 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. 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.