Maverick Capital Ltd. Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Maverick Capital Ltd. bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 344,486 shares of the apparel retailer’s stock, valued at approximately $93,476,000. Lululemon Athletica makes up about 1.8% of Maverick Capital Ltd.’s holdings, making the stock its 20th largest position. Maverick Capital Ltd. owned about 0.28% of Lululemon Athletica as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. Versant Capital Management Inc increased its holdings 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 worth $31,000 after purchasing an additional 40 shares in the last quarter. Rockline Wealth Management LLC boosted its position in Lululemon Athletica by 1.3% in the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock worth $990,000 after purchasing an additional 43 shares during the last quarter. Larson Financial Group LLC grew 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. HHM Wealth Advisors LLC increased its stake in shares of Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Finally, WD Rutherford LLC raised its holdings in Lululemon Athletica by 0.8% in the 2nd quarter. WD Rutherford LLC now owns 6,421 shares of the apparel retailer’s stock worth $1,918,000 after purchasing an additional 52 shares during the period. Institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LULU. Wedbush reduced their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. UBS Group decreased their target price on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. TD Cowen dropped their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. TD Securities raised their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus cut their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued 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 $356.03.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $320.66 on Friday. The company has a market capitalization of $39.37 billion, a PE ratio of 24.78, a P/E/G ratio of 2.32 and a beta of 1.24. The company has a 50 day moving average price of $297.19 and a 200-day moving average price of $287.88. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 EPS. On average, analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 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 acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 4.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate 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.