Jennison Associates LLC Sells 364 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Jennison Associates LLC cut its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,091 shares of the apparel retailer’s stock after selling 364 shares during the quarter. Jennison Associates LLC’s holdings in Lululemon Athletica were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LULU. Advisors Asset Management Inc. boosted its stake in Lululemon Athletica by 6.9% in the 1st quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock valued at $560,000 after buying an additional 92 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Lululemon Athletica during the first quarter worth $345,000. Ilex Capital Partners UK LLP bought a new stake in Lululemon Athletica in the first quarter valued at about $25,356,000. Grandeur Peak Global Advisors LLC lifted its stake in Lululemon Athletica by 17.2% in the first quarter. Grandeur Peak Global Advisors LLC now owns 97,803 shares of the apparel retailer’s stock valued at $38,207,000 after buying an additional 14,326 shares during the period. Finally, Vancity Investment Management Ltd boosted its holdings in Lululemon Athletica by 4.0% during the first quarter. Vancity Investment Management Ltd now owns 23,717 shares of the apparel retailer’s stock worth $9,265,000 after buying an additional 910 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LULU has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Robert W. Baird boosted their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Citigroup dropped their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. TD Cowen decreased their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein dropped their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Stock Up 0.6 %

NASDAQ:LULU opened at $317.11 on Monday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock’s 50 day moving average price is $291.83 and its two-hundred day moving average price is $288.04. The firm has a market capitalization of $38.93 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.29 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. Equities research analysts expect that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other news, 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 value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction on 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 purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

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.