Harbor Investment Advisory LLC Reduces Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Harbor Investment Advisory LLC reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 13.6% in the third quarter, Holdings Channel.com reports. The fund owned 6,094 shares of the apparel retailer’s stock after selling 962 shares during the period. Harbor Investment Advisory LLC’s holdings in Lululemon Athletica were worth $1,654,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $26,000. Benjamin Edwards Inc. increased its stake in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the first quarter valued at $29,000. Larson Financial Group LLC lifted its holdings in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after buying an additional 59 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

LULU has been the subject of a number of research reports. UBS Group lowered their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Piper Sandler lifted their price target on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, KeyCorp reduced their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $354.55.

Lululemon Athletica Stock Performance

Shares of LULU stock traded up $7.82 during midday trading on Friday, reaching $270.38. 2,176,344 shares of the company were exchanged, compared to its average volume of 2,127,607. The company’s 50 day moving average price is $257.52 and its two-hundred day moving average price is $305.88. The company has a market cap of $33.80 billion, a P/E ratio of 21.68, a PEG ratio of 1.40 and a beta of 1.25. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica 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.