lululemon athletica inc. (NASDAQ:LULU) Shares Sold by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its holdings in lululemon athletica by 24.9%, selling 8,127 shares to retain 24,519 shares valued at approximately $6.94 million.
• CEO Calvin McDonald sold 27,049 shares at an average price of $235.69, decreasing his stake by 19.66%, while still holding shares worth over $26 million.
• Analysts have mixed outlooks on lululemon's stock, with target prices ranging from $200 to $400, and a consensus rating of "Moderate Buy" currently in place.

iA Global Asset Management Inc. cut its stake in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,519 shares of the apparel retailer's stock after selling 8,127 shares during the quarter. iA Global Asset Management Inc.'s holdings in lululemon athletica were worth $6,940,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LULU. N.E.W. Advisory Services LLC acquired a new stake in shares of lululemon athletica during the first quarter worth $25,000. Cornerstone Planning Group LLC boosted its position in shares of lululemon athletica by 506.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of lululemon athletica during the 4th quarter worth $30,000. Garde Capital Inc. purchased a new position in shares of lululemon athletica in the 1st quarter valued at about $35,000. Finally, CENTRAL TRUST Co lifted its stake in shares of lululemon athletica by 154.9% in the first quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock valued at $37,000 after purchasing an additional 79 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

lululemon athletica Stock Performance

lululemon athletica stock traded down $1.71 during midday trading on Friday, reaching $189.43. 3,184,383 shares of the company were exchanged, compared to its average volume of 3,128,553. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.63 and a beta of 1.16. The firm's 50-day simple moving average is $236.47 and its 200-day simple moving average is $293.65. lululemon athletica inc. has a 1 year low of $186.52 and a 1 year high of $423.32.

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

Analyst Upgrades and Downgrades

LULU has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of lululemon athletica from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $303.00 to $224.00 in a research report on Tuesday, July 22nd. Robert W. Baird decreased their price target on lululemon athletica from $350.00 to $340.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. TD Securities upped their price target on lululemon athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Barclays reduced their price objective on lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their target price on lululemon athletica from $270.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, lululemon athletica presently has an average rating of "Moderate Buy" and a consensus price target of $329.91.

Insider Buying and Selling

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the sale, the chief executive officer owned 110,564 shares in the company, valued at $26,058,829.16. The trade was a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

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.