Raymond James & Associates Reduces Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Raymond James & Associates decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 16.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,535 shares of the apparel retailer’s stock after selling 10,215 shares during the quarter. Raymond James & Associates’ holdings in Lululemon Athletica were worth $14,255,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. KMG Fiduciary Partners LLC grew its position in Lululemon Athletica by 11.1% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 7,434 shares of the apparel retailer’s stock worth $2,017,000 after purchasing an additional 741 shares during the period. Net Worth Advisory Group acquired a new stake in Lululemon Athletica during the third quarter worth about $348,000. Stratos Wealth Advisors LLC purchased a new position in Lululemon Athletica during the third quarter valued at approximately $2,245,000. Richard W. Paul & Associates LLC lifted its holdings in Lululemon Athletica by 497.0% in the third quarter. Richard W. Paul & Associates LLC now owns 3,958 shares of the apparel retailer’s stock valued at $1,074,000 after acquiring an additional 3,295 shares during the period. Finally, Claro Advisors LLC purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $1,163,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 1.7 %

Shares of NASDAQ:LULU opened at $304.15 on Monday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market cap of $38.02 billion, a P/E ratio of 24.39, a PEG ratio of 2.17 and a beta of 1.25. The business has a fifty day moving average of $270.16 and a two-hundred day moving average of $293.48.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data 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. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company 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 business posted $2.68 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LULU shares. Guggenheim decreased their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Raymond James lowered their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, September 2nd. JPMorgan Chase & Co. cut their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Finally, Bank of America cut their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $354.55.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction 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 owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 0.00 % 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.

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.