Mcrae Capital Management Inc. Sells 6,616 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Mcrae Capital Management Inc. lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,379 shares of the apparel retailer's stock after selling 6,616 shares during the period. Lululemon Athletica accounts for 2.1% of Mcrae Capital Management Inc.'s portfolio, making the stock its 23rd largest holding. Mcrae Capital Management Inc.'s holdings in Lululemon Athletica were worth $10,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer's stock valued at $243,055,000 after buying an additional 894,531 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $93,476,000. The Manufacturers Life Insurance Company increased its stake in shares of Lululemon Athletica by 136.3% in the third 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 period. Southpoint Capital Advisors LP bought a new position in shares of Lululemon Athletica in the third quarter worth about $81,405,000. Finally, River Road Asset Management LLC acquired a new position in shares of Lululemon Athletica during the 3rd quarter worth about $79,503,000. Institutional investors own 85.20% of the company's stock.

Lululemon Athletica Stock Performance

Shares of LULU opened at $390.85 on Friday. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.51 and a beta of 1.19. The stock has a fifty day moving average price of $391.11 and a two-hundred day moving average price of $319.20. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94.

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

Insider Transactions at Lululemon Athletica

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LULU. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and raised their target price for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Raymond James restated an "outperform" rating and issued a $430.00 price objective (up previously from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Truist Financial upped their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Barclays raised their price target on shares of Lululemon Athletica from $378.00 to $411.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Needham & Company LLC raised shares of Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 price objective for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $399.14.

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.

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