Skandinaviska Enskilda Banken AB publ Sells 10,105 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 30.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,366 shares of the apparel retailer’s stock after selling 10,105 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lululemon Athletica were worth $6,977,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. Vanguard Group Inc. grew its holdings in Lululemon Athletica by 1.6% during the first quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after buying an additional 154,985 shares in the last quarter. Value Star Asset Management Hong Kong Ltd grew its stake in shares of Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after acquiring an additional 4,630,466 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Lululemon Athletica by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after acquiring an additional 82,731 shares in the last quarter. Capital World Investors raised its holdings in shares of Lululemon Athletica by 0.9% in the fourth quarter. Capital World Investors now owns 1,547,793 shares of the apparel retailer’s stock valued at $791,371,000 after purchasing an additional 14,112 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Lululemon Athletica by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,139,812 shares of the apparel retailer’s stock valued at $445,268,000 after purchasing an additional 18,924 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Lululemon Athletica Price Performance

LULU opened at $262.61 on Friday. The firm has a market capitalization of $32.83 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a fifty day moving average price of $259.72 and a 200-day moving average price of $318.42.

Lululemon Athletica (NASDAQ:LULU) last announced 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 business 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 company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. On average, analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica announced that its board has authorized a share buyback plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

LULU has been the subject of a number of recent analyst reports. Raymond James reduced their price objective on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Robert W. Baird cut their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, TD Cowen cut their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $354.94.

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.