Lululemon Athletica Inc. (NASDAQ:LULU) Stock Position Decreased by Ithaka Group LLC

Ithaka Group LLC lowered its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,301 shares of the apparel retailer’s stock after selling 890 shares during the period. Lululemon Athletica comprises 1.3% of Ithaka Group LLC’s investment portfolio, making the stock its 27th biggest position. Ithaka Group LLC’s holdings in Lululemon Athletica were worth $6,865,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LULU. Larson Financial Group LLC increased its holdings in Lululemon Athletica by 78.2% in 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 during the last quarter. Paladin Wealth LLC acquired a new position in Lululemon Athletica in the third quarter worth approximately $29,000. Versant Capital Management Inc increased its holdings in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after buying an additional 40 shares during the last quarter. JFS Wealth Advisors LLC increased 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 worth $31,000 after buying an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Lululemon Athletica in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost 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 4.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Telsey Advisory Group lowered their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Wells Fargo & Company lowered their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Sanford C. Bernstein lowered their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Bank of America lowered their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, TD Cowen lowered their price target on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $315.09 on Friday. The stock has a fifty day moving average price of $290.83 and a two-hundred day moving average price of $289.10. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The firm has a market capitalization of $38.69 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.20 and a beta of 1.24.

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. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

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.