E Fund Management Co. Ltd. Acquires 1,592 Shares of lululemon athletica inc. (NASDAQ:LULU)

Key Points

• E Fund Management Co. Ltd. increased its holdings in lululemon athletica by 96.0%, acquiring an additional 1,592 shares to total 3,250 shares valued at approximately $920,000.
• Several large institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also increased their stakes in lululemon athletica, indicating strong institutional support for the stock.
• Analysts have adjusted their price targets for lululemon athletica, with Citigroup reducing its target from $325 to $270, while Bank of America maintains a "buy" rating with a target of $370.

E Fund Management Co. Ltd. boosted its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 96.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,250 shares of the apparel retailer's stock after buying an additional 1,592 shares during the quarter. E Fund Management Co. Ltd.'s holdings in lululemon athletica were worth $920,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in lululemon athletica by 1.2% during the first quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock valued at $3,755,337,000 after buying an additional 157,764 shares during the period. Price T Rowe Associates Inc. MD grew its position in lululemon athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock valued at $1,854,160,000 after buying an additional 2,371,079 shares during the period. Capital World Investors grew its position in lululemon athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares during the period. Flossbach Von Storch SE grew its position in lululemon athletica by 10.3% during the first quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock valued at $396,818,000 after buying an additional 130,565 shares during the period. Finally, Invesco Ltd. grew its position in lululemon athletica by 7.2% during the first quarter. Invesco Ltd. now owns 1,387,609 shares of the apparel retailer's stock valued at $392,777,000 after buying an additional 93,530 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at lululemon athletica

In other news, CEO Calvin Mcdonald sold 27,049 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the sale, the chief executive officer directly owned 110,564 shares in the company, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LULU shares. Citigroup dropped their price target on shares of lululemon athletica from $325.00 to $270.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. KeyCorp dropped their price target on shares of lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. Piper Sandler dropped their price target on shares of lululemon athletica from $270.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, July 29th. Bank of America dropped their price target on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $385.00 price target on shares of lululemon athletica in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $327.15.

lululemon athletica Stock Performance

NASDAQ:LULU opened at $200.49 on Thursday. lululemon athletica inc. has a fifty-two week low of $185.95 and a fifty-two week high of $423.32. The stock has a market capitalization of $24.03 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.64 and a beta of 1.16. The company's 50-day simple moving average is $228.21 and its 200-day simple moving average is $289.57.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts' consensus estimates of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period last year, the business earned $2.54 EPS. The company's revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that lululemon athletica inc. will post 14.36 EPS for the current year.

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.

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