Verus Capital Partners LLC Decreases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Verus Capital Partners LLC trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 11.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 870 shares of the apparel retailer’s stock after selling 115 shares during the period. Verus Capital Partners LLC’s holdings in Lululemon Athletica were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LULU. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $953,000. XTX Topco Ltd lifted its stake in Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’s 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 transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade 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 insiders.

Lululemon Athletica Stock Up 2.3 %

Shares of NASDAQ:LULU opened at $328.30 on Thursday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The company has a 50 day moving average of $282.04 and a two-hundred day moving average of $290.16.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company earned $2.68 earnings per share. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analyst Weigh In

LULU has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus decreased their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. Finally, Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

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.