Van ECK Associates Corp Sells 555 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Van ECK Associates Corp cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,496 shares of the apparel retailer’s stock after selling 555 shares during the period. Van ECK Associates Corp’s holdings in Lululemon Athletica were worth $12,164,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Lululemon Athletica by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after acquiring an additional 154,985 shares in the last quarter. Value Star Asset Management Hong Kong Ltd increased its holdings in Lululemon Athletica by 19,890.3% during 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 purchasing an additional 4,630,466 shares during the period. American Century Companies Inc. lifted its holdings 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 buying an additional 82,731 shares during the period. Legal & General Group Plc grew its position in shares of Lululemon Athletica by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after buying an additional 37,239 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after buying an additional 894,531 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Citigroup reduced their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Guggenheim dropped their price objective on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.16.

Lululemon Athletica Stock Up 0.3 %

Shares of LULU opened at $319.23 on Wednesday. The company has a market capitalization of $39.20 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 2.34 and a beta of 1.24. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock’s 50-day moving average price is $276.41 and its 200-day moving average price is $291.84.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, equities analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica 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 completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Nicole Neuburger sold 486 shares of the business’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 value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 0.48% of the stock is owned by company 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.