Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,557 shares of the apparel retailer’s stock after selling 165 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Lululemon Athletica were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Montrusco Bolton Investments Inc. raised its holdings in shares of Lululemon Athletica by 43.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer’s stock valued at $166,016,000 after purchasing an additional 185,440 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Lululemon Athletica in the third quarter valued at $791,000. Charles Schwab Investment Management Inc. raised its stake in Lululemon Athletica by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer’s stock valued at $190,567,000 after buying an additional 19,808 shares in the last quarter. L & S Advisors Inc purchased a new stake in Lululemon Athletica during the 3rd quarter worth about $1,917,000. Finally, Smithfield Trust Co increased its holdings in shares of Lululemon Athletica by 37.3% in the 3rd quarter. Smithfield Trust Co now owns 1,252 shares of the apparel retailer’s stock valued at $341,000 after acquiring an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This 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 the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Lululemon Athletica Price Performance

Shares of LULU opened at $319.52 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. The firm has a 50 day simple moving average of $296.03 and a 200-day simple moving average of $288.06.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping 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 company 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 business posted $2.68 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LULU shares. Telsey Advisory Group decreased their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Barclays lowered their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Wedbush cut their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $356.03.

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.