Whittier Trust Co. Boosts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Whittier Trust Co. lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 2,868.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,229 shares of the apparel retailer’s stock after purchasing an additional 24,379 shares during the period. Whittier Trust Co.’s holdings in Lululemon Athletica were worth $6,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Wealth Advisory Solutions LLC bought a new position in Lululemon Athletica in the 3rd quarter worth $5,423,000. KMG Fiduciary Partners LLC boosted its holdings in Lululemon Athletica by 11.1% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 7,434 shares of the apparel retailer’s stock worth $2,017,000 after buying an additional 741 shares during the period. Net Worth Advisory Group bought a new position in Lululemon Athletica in the 3rd quarter worth $348,000. Stratos Wealth Advisors LLC bought a new position in Lululemon Athletica in the 3rd quarter worth $2,245,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in Lululemon Athletica by 497.0% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 3,958 shares of the apparel retailer’s stock worth $1,074,000 after buying an additional 3,295 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial reissued a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a report on Wednesday, August 28th. Raymond James dropped their price objective on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. Morgan Stanley dropped their price objective on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Telsey Advisory Group dropped their price objective on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a report on Monday, August 26th. Finally, KeyCorp dropped their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $297.74 on Tuesday. The company has a market cap of $37.22 billion, a PE ratio of 23.88, a P/E/G ratio of 1.99 and a beta of 1.25. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The firm’s 50 day moving average price is $266.20 and its 200-day moving average price is $295.10.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.68 earnings per share. On average, analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

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.