Fmr LLC Has $2.90 Billion Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Fmr LLC trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 40.3% during the third quarter, HoldingsChannel.com reports. The fund owned 10,687,872 shares of the apparel retailer’s stock after selling 7,213,943 shares during the period. Fmr LLC owned approximately 0.09% of Lululemon Athletica worth $2,900,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in Lululemon Athletica by 78.2% in 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 in the last quarter. Paladin Wealth LLC acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $29,000. Versant Capital Management Inc increased its position in shares of Lululemon Athletica by 61.5% in the 2nd 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 in the last quarter. JFS Wealth Advisors LLC raised its stake in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Lululemon Athletica during the second quarter worth about $33,000. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LULU shares. Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Lululemon Athletica in a report on Monday, August 26th. Guggenheim lowered their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. UBS Group dropped their target price on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Barclays reduced their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Finally, Truist Financial increased their price objective 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company’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 represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price 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 directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Lululemon Athletica Price Performance

Shares of LULU opened at $326.72 on Tuesday. The company has a market cap of $40.11 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24. The firm has a 50-day moving average of $293.06 and a 200-day moving average of $287.86. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current 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.