Mcrae Capital Management Inc. Buys New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Mcrae Capital Management Inc. acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,995 shares of the apparel retailer’s stock, valued at approximately $9,496,000. Lululemon Athletica makes up 1.9% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors have also recently made changes to their positions in LULU. Vanguard Group Inc. lifted its holdings in shares of Lululemon Athletica by 1.6% in the first quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after buying an additional 154,985 shares in the last quarter. Value Star Asset Management Hong Kong Ltd grew its position in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after purchasing an additional 4,630,466 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Lululemon Athletica by 4.9% in the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Lululemon Athletica by 3.7% in the second quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after purchasing an additional 37,239 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LULU. Citigroup reduced their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. 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. Jefferies Financial Group restated an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a report on Thursday, July 25th. Robert W. Baird lowered their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Raymond James reduced their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, September 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $304.15 on Friday. The firm has a market capitalization of $38.02 billion, a PE ratio of 24.39, a P/E/G ratio of 2.17 and a beta of 1.25. The business’s fifty day moving average price is $270.16 and its two-hundred day moving average price is $293.87. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $2.68 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents 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.