Fulton Bank N.A. Grows Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Fulton Bank N.A. grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,115 shares of the apparel retailer’s stock after buying an additional 56 shares during the period. Fulton Bank N.A.’s holdings in Lululemon Athletica were worth $574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $26,000. Benjamin Edwards Inc. raised its position in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica during the 1st quarter valued at approximately $29,000. Larson Financial Group LLC boosted its holdings in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the period. Finally, True Wealth Design LLC grew its stake in Lululemon Athletica by 2,950.0% in the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 59 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the topic of several recent research reports. Stifel Nicolaus dropped their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JPMorgan Chase & Co. cut their target price 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. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Piper Sandler raised their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $354.55.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $276.59 on Wednesday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company’s 50-day moving average is $257.79 and its 200 day moving average is $302.14. The stock has a market capitalization of $34.57 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly 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. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts anticipate that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 6,198 shares of the company’s stock, 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. 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.