OVERSEA CHINESE BANKING Corp Ltd Buys 4,564 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 198.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,860 shares of the apparel retailer’s stock after acquiring an additional 4,564 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lululemon Athletica were worth $1,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the period. Versant Capital Management Inc boosted its position in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Paladin Wealth LLC acquired a new stake in Lululemon Athletica during the 3rd quarter worth about $29,000. Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter worth about $33,000. Finally, Dnca Finance acquired a new position in shares of Lululemon Athletica in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LULU. Robert W. Baird raised their target price on Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Raymond James reduced their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. Finally, Sanford C. Bernstein decreased their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $320.90 on Wednesday. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.32 and a beta of 1.24. The business’s fifty day moving average is $280.78 and its 200-day moving average is $290.46. Lululemon Athletica Inc. has a one year low of $226.01 and a one year 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 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 firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $2.68 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 486 shares of the company’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 transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 6,198 shares of the company’s stock, 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. Company insiders own 0.48% of the company’s stock.

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.