Summit Global Investments Increases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Summit Global Investments boosted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 152.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,546 shares of the apparel retailer’s stock after acquiring an additional 5,767 shares during the period. Summit Global Investments’ holdings in Lululemon Athletica were worth $2,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Lifestyle Asset Management Inc. lifted its holdings in shares of Lululemon Athletica by 39.9% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 1,000 shares of the apparel retailer’s stock worth $271,000 after acquiring an additional 285 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Lululemon Athletica during the 3rd quarter worth $8,165,000. Kornitzer Capital Management Inc. KS raised its position in shares of Lululemon Athletica by 52.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 59,131 shares of the apparel retailer’s stock worth $16,045,000 after buying an additional 20,408 shares during the period. Montecito Bank & Trust boosted its holdings in Lululemon Athletica by 87.0% in the third quarter. Montecito Bank & Trust now owns 2,521 shares of the apparel retailer’s stock valued at $684,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Lululemon Athletica by 61.2% during the third quarter. Principal Financial Group Inc. now owns 250,175 shares of the apparel retailer’s stock valued at $67,885,000 after acquiring an additional 94,997 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Up 0.7 %

Shares of NASDAQ LULU opened at $315.30 on Friday. The firm’s 50-day moving average price is $277.50 and its two-hundred day moving average price is $291.99. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market capitalization of $38.71 billion, a P/E ratio of 24.37, a P/E/G ratio of 2.31 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last issued its 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. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on LULU. Robert W. Baird raised their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler increased 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. Sanford C. Bernstein reduced their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Telsey Advisory Group lowered their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Finally, Truist Financial boosted their price target on Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $357.13.

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.