Montecito Bank & Trust Has $684,000 Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Montecito Bank & Trust boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 87.0% in the third quarter, HoldingsChannel reports. The firm owned 2,521 shares of the apparel retailer’s stock after purchasing an additional 1,173 shares during the quarter. Montecito Bank & Trust’s holdings in Lululemon Athletica were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. William Allan Corp grew its stake in Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after buying an additional 37 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Lululemon Athletica by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock worth $738,000 after acquiring an additional 38 shares during the period. Versant Capital Management Inc grew its position in shares of Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Rockline Wealth Management LLC increased its stake in shares of Lululemon Athletica by 1.3% during the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock worth $990,000 after purchasing an additional 43 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LULU has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Robert W. Baird lifted their price objective on shares of Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler increased 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. Wedbush dropped their price target 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $357.13.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’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 directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 approximately $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $315.30 on Friday. The company has a 50 day simple moving average of $277.50 and a 200 day simple moving average of $291.99. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The firm has a market cap of $38.71 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24.

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

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.