Lululemon Athletica Inc. (NASDAQ:LULU) Holdings Lowered by Quantum Private Wealth LLC

Quantum Private Wealth LLC trimmed its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 31.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,840 shares of the apparel retailer’s stock after selling 1,332 shares during the quarter. Quantum Private Wealth LLC’s holdings in Lululemon Athletica were worth $771,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. William Allan Corp lifted its holdings in shares of Lululemon Athletica by 0.8% during the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after purchasing an additional 37 shares during the last quarter. Bleakley Financial Group LLC raised its position in Lululemon Athletica by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock valued at $738,000 after buying an additional 38 shares during the period. Versant Capital Management Inc raised 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 buying an additional 40 shares during the period. Rockline Wealth Management LLC raised its position in Lululemon Athletica by 1.3% during the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock valued at $990,000 after buying an additional 43 shares during the period. Finally, Larson Financial Group LLC raised its position in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Down 0.9 %

NASDAQ:LULU opened at $312.57 on Friday. The stock’s 50 day moving average price is $277.50 and its two-hundred day moving average price is $291.99. The firm has a market capitalization of $38.38 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.31 and a beta of 1.24. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The company 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 firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. Equities research analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LULU. JPMorgan Chase & Co. dropped their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Bank of America decreased their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Robert W. Baird increased their target price on Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley decreased their target price on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Telsey Advisory Group decreased their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Two equities 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated 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 approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently 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.