The Manufacturers Life Insurance Company Grows Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

The Manufacturers Life Insurance Company increased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 136.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 529,295 shares of the apparel retailer’s stock after buying an additional 305,302 shares during the period. The Manufacturers Life Insurance Company owned about 0.43% of Lululemon Athletica worth $143,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LULU. Versant Capital Management Inc raised its stake in Lululemon Athletica by 61.5% in the 2nd 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. Rockline Wealth Management LLC raised its stake in Lululemon Athletica by 1.3% in the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock valued at $990,000 after purchasing an additional 43 shares during the last quarter. Larson Financial Group LLC raised its stake in Lululemon Athletica by 78.2% in the 2nd 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. Beacon Capital Management LLC raised its stake in Lululemon Athletica by 31.1% in the 1st quarter. Beacon Capital Management LLC now owns 194 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 46 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 46 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Down 2.4 %

NASDAQ LULU opened at $318.84 on Wednesday. The stock has a market cap of $39.15 billion, a PE ratio of 24.64, a P/E/G ratio of 2.38 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 business has a 50 day moving average price of $294.07 and a two-hundred day moving average price of $287.62.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly 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 analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 EPS. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LULU has been the subject of several analyst reports. TD Securities boosted their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC initiated coverage on shares of Lululemon Athletica in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Truist Financial upped their price objective on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Telsey Advisory Group dropped their price objective on shares of 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, KeyCorp dropped their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.13.

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.