Synovus Financial Corp Purchases 1,329 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Synovus Financial Corp increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 46.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,191 shares of the apparel retailer's stock after purchasing an additional 1,329 shares during the quarter. Synovus Financial Corp's holdings in Lululemon Athletica were worth $1,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Value Star Asset Management Hong Kong Ltd grew its holdings in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer's stock worth $1,390,074,000 after purchasing an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC boosted its position in Lululemon Athletica by 74,856.2% during the 3rd 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. Maverick Capital Ltd. bought a new stake in Lululemon Athletica during the 3rd quarter worth approximately $93,476,000. The Manufacturers Life Insurance Company increased its position in Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer's stock valued at $143,624,000 after acquiring an additional 305,302 shares during the period. Finally, Southpoint Capital Advisors LP bought a new position in shares of Lululemon Athletica during the third quarter valued at $81,405,000. Institutional investors own 85.20% of the company's stock.

Lululemon Athletica Trading Up 0.2 %

NASDAQ LULU traded up $0.85 during trading hours on Tuesday, hitting $390.59. The company's stock had a trading volume of 1,382,621 shares, compared to its average volume of 2,116,563. The company's 50-day simple moving average is $321.16 and its two-hundred day simple moving average is $292.00. The company has a market capitalization of $47.96 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating 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 quarter last year, the company earned $2.53 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts anticipate that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on LULU. Sanford C. Bernstein decreased their price objective on Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a report on Friday, August 30th. Bank of America decreased their price target on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Raymond James raised their price objective on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a "hold" rating in a report on Monday, December 9th. Finally, Evercore ISI raised their price target on shares of Lululemon Athletica from $300.00 to $355.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned 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 $377.63.

Insider Activity

In related news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate 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.