M&T Bank Corp Sells 3,108 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

M&T Bank Corp reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,229 shares of the apparel retailer's stock after selling 3,108 shares during the quarter. M&T Bank Corp's holdings in Lululemon Athletica were worth $4,294,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica in the third quarter valued at $93,476,000. The Manufacturers Life Insurance Company lifted its position in shares of Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer's stock worth $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Lululemon Athletica in the 3rd quarter valued at $81,405,000. Los Angeles Capital Management LLC lifted its position in shares of Lululemon Athletica by 248.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer's stock worth $123,530,000 after acquiring an additional 230,349 shares during the period. Finally, Swedbank AB boosted its stake in Lululemon Athletica by 151.0% during the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer's stock worth $99,744,000 after buying an additional 221,112 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock traded down $7.53 on Monday, reaching $336.83. 440,556 shares of the company's stock were exchanged, compared to its average volume of 1,580,646. The firm's 50-day moving average is $382.97 and its two-hundred day moving average is $333.33. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $480.94. The company has a market capitalization of $41.02 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

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Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. Lululemon Athletica's revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Telsey Advisory Group raised their target price on Lululemon Athletica from $430.00 to $445.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Oppenheimer boosted their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Citigroup raised their target price on shares of Lululemon Athletica from $270.00 to $380.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Guggenheim increased their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their target price on Lululemon Athletica from $380.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $399.14.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were 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 directly owns 6,198 shares of the company's stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by company insiders.

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.