IFM Investors Pty Ltd Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

IFM Investors Pty Ltd cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 24,059 shares of the apparel retailer’s stock after selling 651 shares during the quarter. IFM Investors Pty Ltd’s holdings in Lululemon Athletica were worth $6,528,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Lafayette Investments Inc. boosted its stake in shares of Lululemon Athletica by 15.4% in the 3rd quarter. Lafayette Investments Inc. now owns 855 shares of the apparel retailer’s stock valued at $232,000 after purchasing an additional 114 shares in the last quarter. Grimes & Company Inc. boosted its stake in shares of Lululemon Athletica by 4,246.2% in the 3rd quarter. Grimes & Company Inc. now owns 59,456 shares of the apparel retailer’s stock valued at $16,134,000 after purchasing an additional 58,088 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at $239,000. X Square Capital LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at $1,392,000. Finally, First National Bank of Hutchinson boosted its stake in shares of Lululemon Athletica by 24.0% in the 3rd quarter. First National Bank of Hutchinson now owns 1,293 shares of the apparel retailer’s stock valued at $351,000 after purchasing an additional 250 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $304.15 on Friday. The firm has a market cap of $38.02 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.17 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a 50-day simple moving average of $269.24 and a two-hundred day simple moving average of $294.72.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data 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. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates 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 business earned $2.68 EPS. On average, equities research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of research reports. Citigroup cut their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. TD Cowen dropped their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Piper Sandler increased their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $354.55.

Insider Buying and Selling at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The stock was purchased 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 of the company’s stock, valued at $23,379,720. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on 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 sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents 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 company insiders.

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.