CIBC Asset Management Inc Buys 1,521 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

CIBC Asset Management Inc increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 36,272 shares of the apparel retailer’s stock after acquiring an additional 1,521 shares during the quarter. CIBC Asset Management Inc’s holdings in Lululemon Athletica were worth $9,842,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LULU. Larson Financial Group LLC grew its stake in shares of Lululemon Athletica by 78.2% during the second 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. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in shares of Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in Lululemon Athletica in the second quarter valued at approximately $33,000. 85.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price 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 approximately $23,379,720. The trade was a 4.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The shares were 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 directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LULU. Truist Financial increased their price objective on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Guggenheim cut their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Robert W. Baird increased their price objective on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America cut their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Sanford C. Bernstein cut their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Trading Down 3.1 %

Lululemon Athletica stock opened at $320.01 on Friday. The company has a market cap of $39.29 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The company has a fifty day simple moving average of $286.35 and a 200 day simple moving average of $289.90.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 earnings per share. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS 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.