Gulf International Bank UK Ltd Raises Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in lululemon athletica, raising it by 2,220.4% in the first quarter, now owning 5,337 shares valued at approximately $1.51 million.
• Institutional investors like Price T Rowe Associates and GAMMA Investing LLC also made substantial increases to their positions in lululemon, highlighting a growing confidence in the company's performance.
• Wall Street analysts have mixed opinions on lululemon's stock, with target price estimates ranging from $200 to $400, but overall the stock holds an average rating of "Moderate Buy."

Gulf International Bank UK Ltd grew its stake in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 2,220.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,337 shares of the apparel retailer's stock after purchasing an additional 5,107 shares during the period. Gulf International Bank UK Ltd's holdings in lululemon athletica were worth $1,510,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD boosted its position in shares of lululemon athletica by 95.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock worth $1,854,160,000 after purchasing an additional 2,371,079 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of lululemon athletica by 37,062.1% during the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock worth $159,364,000 after purchasing an additional 561,491 shares in the last quarter. Capital World Investors boosted its position in shares of lululemon athletica by 34.6% during the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock worth $827,338,000 after purchasing an additional 556,406 shares in the last quarter. Nuveen LLC purchased a new stake in shares of lululemon athletica in the 1st quarter worth about $123,894,000. Finally, Ameriprise Financial Inc. boosted its position in shares of lululemon athletica by 128.2% in the 4th quarter. Ameriprise Financial Inc. now owns 706,300 shares of the apparel retailer's stock worth $270,223,000 after buying an additional 396,732 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LULU shares. Piper Sandler cut their target price on shares of lululemon athletica from $270.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Telsey Advisory Group reissued an "outperform" rating and set a $385.00 target price on shares of lululemon athletica in a research report on Monday, June 2nd. Morgan Stanley restated an "equal weight" rating and issued a $280.00 price target (down previously from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. Evercore ISI upped their price target on lululemon athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, Bank of America decreased their price target on lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $327.15.

lululemon athletica Price Performance

Shares of NASDAQ LULU opened at $195.19 on Friday. lululemon athletica inc. has a 1-year low of $185.95 and a 1-year high of $423.32. The business's fifty day moving average price is $225.49 and its two-hundred day moving average price is $288.14. The firm has a market capitalization of $23.39 billion, a PE ratio of 13.22, a P/E/G ratio of 1.71 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $2.54 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald sold 27,049 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the transaction, the chief executive officer directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This trade represents a 19.66% 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. 0.54% of the stock is owned by corporate insiders.

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.

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