Oppenheimer & Co. Inc. Decreases Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Oppenheimer & Co. Inc. decreased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 0.6% in the third quarter, Holdings Channel.com reports. The firm owned 10,590 shares of the apparel retailer’s stock after selling 65 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lululemon Athletica were worth $2,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Shepherd Financial Partners LLC bought a new position in shares of Lululemon Athletica during the third quarter valued at about $953,000. XTX Topco Ltd boosted its holdings in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after acquiring an additional 3,721 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Lululemon Athletica by 9.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after purchasing an additional 3,077 shares during the period. Finally, Rheos Capital Works Inc. lifted its position in Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of several recent analyst reports. KeyCorp cut their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. UBS Group decreased their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Morgan Stanley dropped their target price on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Piper Sandler boosted their price target on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Wedbush dropped their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $320.01 on Friday. The firm has a market cap of $39.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.39 and a beta of 1.24. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a 50-day simple moving average of $285.03 and a two-hundred day simple moving average of $290.70.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The company 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 quarterly revenue 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 predict that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Activity

In related news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, 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. Corporate insiders own 0.48% of the company’s stock.

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.