GM Advisory Group LLC Decreases Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

GM Advisory Group LLC reduced its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,942 shares of the apparel retailer’s stock after selling 65 shares during the period. GM Advisory Group LLC’s holdings in Lululemon Athletica were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica in the third quarter worth about $953,000. XTX Topco Ltd increased its position in Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after purchasing an additional 3,721 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its position in Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LULU has been the subject of several recent analyst reports. Barclays cut their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Telsey Advisory Group cut their price objective 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. 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 report on Thursday, August 22nd. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Finally, Bank of America dropped their price target on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Up 0.6 %

Shares of Lululemon Athletica stock opened at $317.11 on Friday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a 50 day moving average of $291.83 and a 200 day moving average of $288.87. The company has a market capitalization of $38.93 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.29 and a beta of 1.24.

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, topping 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

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.