Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 937 shares of the apparel retailer’s stock after selling 98 shares during the quarter. Hancock Whitney Corp’s holdings in Lululemon Athletica were worth $280,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after buying an additional 3,721 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Brookstone Capital Management increased its position in shares of Lululemon Athletica by 202.8% during the first quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Lululemon Athletica by 6.0% in the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after purchasing an additional 319 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of research reports. HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. Telsey Advisory Group reduced their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a report on Monday, August 26th. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Lululemon Athletica in a report on Monday, August 26th. UBS Group reduced their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their target price for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

Shares of LULU opened at $259.80 on Tuesday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a 50 day simple moving average of $259.24 and a 200-day simple moving average of $316.11. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last released 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. The company 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 previous year, the firm posted $2.68 earnings per share. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Lululemon Athletica 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.