Investment Management Corp of Ontario Increases Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Investment Management Corp of Ontario grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 46.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,777 shares of the apparel retailer’s stock after acquiring an additional 1,200 shares during the quarter. Investment Management Corp of Ontario’s holdings in Lululemon Athletica were worth $1,025,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd grew its holdings 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 buying an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC lifted its position in Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after acquiring an additional 894,531 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Lululemon Athletica during the 3rd quarter valued at $93,476,000. The Manufacturers Life Insurance Company raised its stake in shares of Lululemon Athletica by 136.3% in the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of Lululemon Athletica during the third quarter valued at $81,405,000. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LULU. Oppenheimer reduced their price objective on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Bank of America lowered their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial lifted their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Telsey Advisory Group dropped their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Finally, Needham & Company LLC began coverage on Lululemon Athletica in a research report on Friday, November 22nd. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $353.74.

Insider Buying and Selling

In other news, insider Nicole Neuburger sold 486 shares of the company’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 transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Up 0.7 %

Lululemon Athletica stock opened at $344.81 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company’s 50-day moving average price is $303.40 and its 200-day moving average price is $287.81. The company has a market cap of $42.33 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.49 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.53 EPS. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 13.94 earnings per share for the current fiscal year.

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.