Commerce Bank Sells 92 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Commerce Bank lowered its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,232 shares of the apparel retailer’s stock after selling 92 shares during the period. Commerce Bank’s holdings in Lululemon Athletica were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. Advisors Asset Management Inc. increased its position in shares of Lululemon Athletica by 6.9% during the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock valued at $560,000 after acquiring an additional 92 shares in the last quarter. Caxton Associates LP bought a new stake in Lululemon Athletica in the 1st quarter worth approximately $345,000. Ilex Capital Partners UK LLP bought a new stake in Lululemon Athletica in the 1st quarter worth approximately $25,356,000. Grandeur Peak Global Advisors LLC grew its position in Lululemon Athletica by 17.2% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 97,803 shares of the apparel retailer’s stock worth $38,207,000 after purchasing an additional 14,326 shares during the period. Finally, Vancity Investment Management Ltd grew its position in Lululemon Athletica by 4.0% in the 1st quarter. Vancity Investment Management Ltd now owns 23,717 shares of the apparel retailer’s stock worth $9,265,000 after purchasing an additional 910 shares during the period. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 0.6 %

Lululemon Athletica stock opened at $317.11 on Monday. The company’s 50-day moving average price is $291.83 and its 200-day moving average price is $288.04. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market cap of $38.93 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 EPS. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wedbush cut their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Wells Fargo & Company cut their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Piper Sandler lifted their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Sanford C. Bernstein cut their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Finally, Guggenheim cut their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % 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 insiders.

About Lululemon Athletica

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.