MAI Capital Management Lowers Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

MAI Capital Management cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,865 shares of the apparel retailer’s stock after selling 682 shares during the quarter. MAI Capital Management’s holdings in Lululemon Athletica were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LULU. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter worth approximately $953,000. XTX Topco Ltd boosted its position in Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares during the period. Gateway Investment Advisers LLC increased its position in shares of Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its stake in shares of Lululemon Athletica by 19.2% during the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares during the period. 85.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on LULU. Stifel Nicolaus reduced their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Bank of America decreased their price target on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company lowered their target price on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Finally, Piper Sandler increased their price target on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s 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 completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Price Performance

Shares of LULU opened at $315.09 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The company has a market capitalization of $38.69 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.20 and a beta of 1.24. The firm’s 50 day simple moving average is $290.83 and its 200 day simple moving average is $289.10.

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

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.