Strong Tower Advisory Services Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Strong Tower Advisory Services bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 959 shares of the apparel retailer’s stock, valued at approximately $260,000.

Several other institutional investors have also bought and sold shares of LULU. Franklin Street Advisors Inc. NC bought a new position in Lululemon Athletica during the 3rd quarter valued at about $18,745,000. Tobam raised its position in Lululemon Athletica by 59.1% in the 3rd quarter. Tobam now owns 393 shares of the apparel retailer’s stock worth $107,000 after purchasing an additional 146 shares during the last quarter. Strategic Advisors LLC lifted its stake in shares of Lululemon Athletica by 3.7% during the third quarter. Strategic Advisors LLC now owns 4,731 shares of the apparel retailer’s stock valued at $1,284,000 after acquiring an additional 169 shares during the period. Adirondack Trust Co. lifted its position in Lululemon Athletica by 1,427.5% during the 3rd quarter. Adirondack Trust Co. now owns 611 shares of the apparel retailer’s stock valued at $166,000 after purchasing an additional 571 shares during the period. Finally, CWM LLC grew its position in shares of Lululemon Athletica by 13.7% during the 3rd quarter. CWM LLC now owns 3,294 shares of the apparel retailer’s stock worth $894,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased 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 owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 in the company, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LULU has been the topic of a number of recent research reports. TD Cowen reduced their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Truist Financial reaffirmed a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Sanford C. Bernstein cut their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. UBS Group lowered their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a report on Monday, August 26th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU traded up $4.01 during midday trading on Friday, reaching $277.59. The company’s stock had a trading volume of 288,433 shares, compared to its average volume of 2,111,882. The company has a market cap of $34.08 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.99 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 business’s 50 day moving average price is $259.00 and its two-hundred day moving average price is $300.87.

Lululemon Athletica (NASDAQ:LULU) last issued 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. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. Sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

About Lululemon Athletica

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.