Kingsview Wealth Management LLC Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Kingsview Wealth Management LLC lowered its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,557 shares of the apparel retailer’s stock after selling 165 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Lululemon Athletica were worth $422,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LULU. Montrusco Bolton Investments Inc. raised its stake in shares of Lululemon Athletica by 43.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer’s stock worth $166,016,000 after purchasing an additional 185,440 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Lululemon Athletica during the 3rd quarter valued at approximately $791,000. Charles Schwab Investment Management Inc. increased its stake in shares of Lululemon Athletica by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer’s stock worth $190,567,000 after acquiring an additional 19,808 shares during the period. L & S Advisors Inc purchased a new position in shares of Lululemon Athletica during the third quarter worth $1,917,000. Finally, Smithfield Trust Co lifted its position in Lululemon Athletica by 37.3% during the third quarter. Smithfield Trust Co now owns 1,252 shares of the apparel retailer’s stock valued at $341,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 0.2 %

NASDAQ LULU opened at $319.52 on Friday. The stock has a market cap of $39.23 billion, a PE ratio of 24.69, a P/E/G ratio of 2.38 and a beta of 1.24. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The stock has a fifty day simple moving average of $296.03 and a 200-day simple moving average of $288.06.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating 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 business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The trade was a 4.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the 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 sale, the insider now directly owns 6,198 shares in the company, valued at $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 owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LULU shares. Needham & Company LLC started coverage on Lululemon Athletica in a research note on Friday, November 22nd. They set a “hold” rating for the company. The Goldman Sachs Group lowered Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Lululemon Athletica from $314.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer lowered their price target on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Guggenheim decreased their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” 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 nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.03.

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.