Harvest Fund Management Co. Ltd Sells 8,167 Shares of lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in lululemon athletica by 52.6%, now holding 7,345 shares valued at $2.08 million.
• CEO Calvin McDonald sold 27,049 shares for approximately $6.38 million, resulting in a 19.66% decrease in his ownership of the company.
• Analysts recently adjusted target prices for lululemon with a range from $200 to $400, reflecting varying ratings that include one sell, thirteen hold, and sixteen buy ratings.

Harvest Fund Management Co. Ltd lowered its position in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 52.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,345 shares of the apparel retailer's stock after selling 8,167 shares during the period. Harvest Fund Management Co. Ltd's holdings in lululemon athletica were worth $2,078,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. First Foundation Advisors increased its position in shares of lululemon athletica by 7.8% during the first quarter. First Foundation Advisors now owns 17,120 shares of the apparel retailer's stock valued at $4,846,000 after acquiring an additional 1,239 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of lululemon athletica during the first quarter valued at approximately $1,210,000. Federated Hermes Inc. increased its position in shares of lululemon athletica by 914.5% during the first quarter. Federated Hermes Inc. now owns 5,316 shares of the apparel retailer's stock valued at $1,505,000 after acquiring an additional 4,792 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of lululemon athletica during the first quarter valued at approximately $25,000. Finally, TCTC Holdings LLC increased its position in shares of lululemon athletica by 91.3% during the first quarter. TCTC Holdings LLC now owns 132 shares of the apparel retailer's stock valued at $37,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 85.20% of the company's stock.

Insider Buying and Selling at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction that occurred 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 owned 110,564 shares in the company, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company's stock.

lululemon athletica Price Performance

NASDAQ:LULU traded down $7.20 during mid-day trading on Friday, reaching $193.33. 4,678,061 shares of the company's stock traded hands, compared to its average volume of 3,116,957. lululemon athletica inc. has a 12-month low of $191.44 and a 12-month high of $423.32. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.65 and a beta of 1.16. The company has a 50 day moving average price of $248.66 and a 200-day moving average price of $298.81.

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

Analyst Upgrades and Downgrades

LULU has been the subject of a number of research analyst reports. TD Securities increased their price target on lululemon athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. downgraded lululemon athletica from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $303.00 to $224.00 in a research report on Tuesday, July 22nd. Bank of America decreased their target price on lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research report on Friday, June 6th. BTIG Research decreased their target price on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Jefferies Financial Group decreased their target price on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $333.57.

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.