CIBC Asset Management Inc Grows Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

CIBC Asset Management Inc raised its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,272 shares of the apparel retailer’s stock after purchasing 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Intellectus Partners LLC increased its position in shares of Lululemon Athletica by 17.8% during the third quarter. Intellectus Partners LLC now owns 4,345 shares of the apparel retailer’s stock worth $1,179,000 after acquiring an additional 655 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Lululemon Athletica by 178.6% during the third quarter. OneDigital Investment Advisors LLC now owns 6,277 shares of the apparel retailer’s stock worth $1,703,000 after acquiring an additional 4,024 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Lululemon Athletica by 10.5% during the third quarter. Impax Asset Management Group plc now owns 28,165 shares of the apparel retailer’s stock worth $7,643,000 after acquiring an additional 2,676 shares during the last quarter. ING Groep NV increased its position in shares of Lululemon Athletica by 56.5% during the third quarter. ING Groep NV now owns 23,594 shares of the apparel retailer’s stock worth $6,402,000 after acquiring an additional 8,521 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of Lululemon Athletica by 8.7% during the third quarter. Metis Global Partners LLC now owns 6,083 shares of the apparel retailer’s stock worth $1,651,000 after acquiring an additional 488 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $320.01 on Friday. The firm has a market cap of $39.29 billion, a price-to-earnings 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 fifty day moving average price of $286.35 and a two-hundred day moving average price 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, topping analysts’ consensus estimates of $2.93 by $0.22. The firm 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 revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 EPS. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein decreased their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Lululemon Athletica in a research note on Monday, August 26th. Telsey Advisory Group decreased 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. Wedbush decreased their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Finally, Barclays decreased their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Calvin Mcdonald bought 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, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

About Lululemon Athletica

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.