Chevy Chase Trust Holdings LLC Reduces Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,281 shares of the apparel retailer's stock after selling 2,378 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Lululemon Athletica were worth $22,670,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Lululemon Athletica by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer's stock worth $669,036,000 after buying an additional 44,294 shares during the period. International Assets Investment Management LLC increased its position 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 worth $243,055,000 after buying an additional 894,531 shares during the period. Charles Schwab Investment Management Inc. increased its position in Lululemon Athletica by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer's stock worth $190,567,000 after buying an additional 19,808 shares during the period. Montrusco Bolton Investments Inc. increased its position in Lululemon Athletica by 43.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer's stock worth $166,016,000 after buying an additional 185,440 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Lululemon Athletica by 60.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 546,162 shares of the apparel retailer's stock valued at $148,201,000 after purchasing an additional 205,757 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LULU. KeyCorp boosted their target price on Lululemon Athletica from $400.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Telsey Advisory Group boosted their target price on Lululemon Athletica from $430.00 to $445.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Truist Financial boosted their target price on Lululemon Athletica from $420.00 to $460.00 and gave the company a "buy" rating in a report on Friday, January 10th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Finally, BMO Capital Markets upped their price objective on Lululemon Athletica from $265.00 to $302.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.14.

Lululemon Athletica Stock Down 1.3 %

Shares of LULU traded down $4.92 during trading hours on Wednesday, reaching $367.52. 1,421,889 shares of the company traded hands, compared to its average volume of 1,625,595. The stock has a market capitalization of $44.76 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $480.94. The stock has a fifty day simple moving average of $390.12 and a 200 day simple moving average of $323.12.

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

Insider Buying and Selling

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

Lululemon Athletica Company 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.