Miracle Mile Advisors LLC Increases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Miracle Mile Advisors LLC lifted its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 63.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,560 shares of the apparel retailer’s stock after buying an additional 608 shares during the period. Miracle Mile Advisors LLC’s holdings in Lululemon Athletica were worth $423,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at $26,000. Benjamin Edwards Inc. increased its holdings in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Lululemon Athletica in the 1st quarter valued at about $29,000. Larson Financial Group LLC boosted its holdings in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after buying an additional 59 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald bought 4,000 shares of the 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 completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction 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 transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This 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 insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on LULU. Stifel Nicolaus reduced 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. Sanford C. Bernstein decreased their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. TD Cowen dropped their price target on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Wells Fargo & Company cut their price target on 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. Finally, Citigroup lowered their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.55.

Lululemon Athletica Stock Performance

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

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 earnings per share. Analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

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.