Eastern Bank Trims Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Eastern Bank trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 33.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 600 shares of the apparel retailer’s stock after selling 304 shares during the quarter. Eastern Bank’s holdings in Lululemon Athletica were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in Lululemon Athletica by 4.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock worth $258,000 after purchasing an additional 42 shares during the period. Claro Advisors LLC increased its holdings in Lululemon Athletica by 5.6% during the 4th quarter. Claro Advisors LLC now owns 902 shares of the apparel retailer’s stock worth $345,000 after purchasing an additional 48 shares during the period. Capital Market Strategies LLC increased its holdings in Lululemon Athletica by 6.5% during the 4th quarter. Capital Market Strategies LLC now owns 820 shares of the apparel retailer’s stock worth $314,000 after purchasing an additional 50 shares during the period. Fulton Bank N.A. increased its holdings in Lululemon Athletica by 2.7% during the 3rd quarter. Fulton Bank N.A. now owns 2,115 shares of the apparel retailer’s stock worth $574,000 after purchasing an additional 56 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Lululemon Athletica by 11.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 598 shares of the apparel retailer’s stock worth $179,000 after purchasing an additional 60 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $388.74 on Wednesday. The firm has a market capitalization of $47.34 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. The business has a fifty day moving average of $358.92 and a 200 day moving average of $303.06. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.53 EPS. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.17 earnings per share for the current year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on LULU shares. Barclays raised their price objective on Lululemon Athletica from $261.00 to $378.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. TD Securities increased their target price on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler increased their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Raymond James increased their target price on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Finally, Telsey Advisory Group increased their target price on Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $383.23.

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.