Retirement Systems of Alabama Sells 87,607 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Retirement Systems of Alabama reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 77.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,974 shares of the apparel retailer's stock after selling 87,607 shares during the period. Retirement Systems of Alabama's holdings in Lululemon Athletica were worth $6,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its holdings in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Paladin Wealth LLC acquired a new position in shares of Lululemon Athletica during the third quarter worth $29,000. Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter valued at $33,000. HHM Wealth Advisors LLC boosted its holdings in shares of Lululemon Athletica by 66.7% during the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer's stock valued at $34,000 after acquiring an additional 46 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 65 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LULU. BMO Capital Markets increased their target price on Lululemon Athletica from $265.00 to $302.00 and gave the company a "market perform" rating in a research report on Friday, December 6th. William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Sanford C. Bernstein dropped 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 research note on Friday, August 30th. Finally, TD Securities lifted their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Lululemon Athletica presently has an average rating of "Moderate Buy" and an average price target of $377.63.

Lululemon Athletica Trading Down 4.7 %

LULU stock traded down $18.52 during trading on Wednesday, reaching $372.07. 2,094,660 shares of the stock were exchanged, compared to its average volume of 2,116,522. The firm's 50 day moving average is $325.40 and its 200 day moving average is $293.11. The firm has a market cap of $45.31 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. Lululemon Athletica's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts predict that Lululemon Athletica Inc. will post 14.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Celeste Burgoyne sold 24,870 shares of the firm's stock in a transaction that occurred on 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 owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred 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 transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

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.