Zurcher Kantonalbank Zurich Cantonalbank Purchases 11,988 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 21.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 67,773 shares of the apparel retailer’s stock after acquiring an additional 11,988 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lululemon Athletica were worth $18,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC lifted 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 purchasing an additional 43 shares during the last quarter. Paladin Wealth LLC bought a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $29,000. Versant Capital Management Inc grew its position in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 40 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Lululemon Athletica during the second quarter valued at approximately $33,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LULU. Needham & Company LLC assumed coverage on Lululemon Athletica in a report on Friday, November 22nd. They issued a “hold” rating for the company. Wells Fargo & Company cut their price objective 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. TD Securities increased their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley lifted their price target on shares of Lululemon Athletica from $314.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Telsey Advisory Group reduced their price objective on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $356.03.

Lululemon Athletica Price Performance

LULU opened at $320.66 on Friday. The firm has a market capitalization of $39.37 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.32 and a beta of 1.24. The business’s 50-day moving average is $297.19 and its two-hundred day moving average is $287.88. 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 data 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 firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current 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 dated Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

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.