Bleakley Financial Group LLC Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Bleakley Financial Group LLC decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 42.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 926 shares of the apparel retailer’s stock after selling 697 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lululemon Athletica were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica during the 1st quarter valued at about $29,000. Larson Financial Group LLC lifted its stake in shares of Lululemon Athletica by 78.2% in the 2nd 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. Versant Capital Management Inc boosted 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 during the period. Paladin Wealth LLC bought a new position in shares of Lululemon Athletica during the 3rd quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC purchased a new stake in Lululemon Athletica during the 2nd quarter valued at $33,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 1.9 %

Shares of LULU stock opened at $293.14 on Thursday. The stock has a market cap of $36.64 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The business has a 50-day simple moving average of $268.39 and a 200-day simple moving average of $294.69.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LULU. Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. KeyCorp reduced their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. UBS Group dropped their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Raymond James cut their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $354.55.

Insider Activity

In other news, insider Nicole Neuburger sold 486 shares of the 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 in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.