Manchester Global Management UK Ltd Has $16.02 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Manchester Global Management UK Ltd decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,635 shares of the apparel retailer’s stock after selling 13,800 shares during the period. Lululemon Athletica accounts for 2.8% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 18th biggest holding. Manchester Global Management UK Ltd’s holdings in Lululemon Athletica were worth $16,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of Lululemon Athletica by 51.8% in the fourth quarter. Assetmark Inc. now owns 944 shares of the apparel retailer’s stock valued at $483,000 after buying an additional 322 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Lululemon Athletica by 17.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 12,520 shares of the apparel retailer’s stock valued at $6,401,000 after buying an additional 1,870 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Lululemon Athletica by 11.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,564 shares of the apparel retailer’s stock valued at $2,243,000 after buying an additional 480 shares during the period. Advisory Services Network LLC lifted its stake in shares of Lululemon Athletica by 6.0% in the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after buying an additional 319 shares during the period. Finally, Congress Wealth Management LLC DE lifted its stake in shares of Lululemon Athletica by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LULU. Wells Fargo & Company reduced their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. TD Securities increased their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Truist Financial reissued a “buy” rating and issued a $310.00 price target on shares of Lululemon Athletica in a research report on Wednesday, August 28th. 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. Finally, Stifel Nicolaus dropped their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $259.80 on Tuesday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market cap of $32.48 billion, a PE ratio of 20.83, a PEG ratio of 1.38 and a beta of 1.25. The firm’s 50 day moving average price is $259.24 and its two-hundred day moving average price is $316.11.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.