Eastern Bank Sells 1,396 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Eastern Bank lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 60.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 904 shares of the apparel retailer’s stock after selling 1,396 shares during the quarter. Eastern Bank’s holdings in Lululemon Athletica were worth $245,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lululemon Athletica by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after acquiring an additional 154,985 shares during the last quarter. Value Star Asset Management Hong Kong Ltd lifted its holdings in Lululemon Athletica by 19,890.3% in the 2nd 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 buying an additional 4,630,466 shares during the period. American Century Companies Inc. lifted its holdings in Lululemon Athletica by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after buying an additional 82,731 shares during the period. Legal & General Group Plc lifted its holdings in Lululemon Athletica by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after buying an additional 37,239 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lululemon Athletica by 38.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock valued at $220,423,000 after purchasing an additional 203,882 shares during the period. Institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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 value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % 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.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of recent research reports. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted 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. Bank of America lowered their price objective 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. TD Securities lifted their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Robert W. Baird lowered their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $354.55.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $298.99 on Friday. The company has a market capitalization of $37.37 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The business’s fifty day moving average is $268.39 and its 200 day moving average is $294.69. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released 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 for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. On average, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS 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.