Kovitz Investment Group Partners LLC Acquires 11,991 Shares of lululemon athletica inc. $LULU

Key Points

• Kovitz Investment Group Partners LLC increased its stake in lululemon athletica by 4.0%, now owning approximately 0.26% of the company's shares valued at about $87.96 million.
• Insider transactions revealed that CEO Calvin McDonald sold 27,049 shares in June, resulting in a 19.66% decrease in his ownership.
• Recent analyst reports have led to lowered price targets for lululemon, with UBS Group reducing it from $330.00 to $290.00, while maintaining a "neutral" rating.

Kovitz Investment Group Partners LLC grew its position in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,743 shares of the apparel retailer's stock after acquiring an additional 11,991 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.26% of lululemon athletica worth $87,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in LULU. Anderson Financial Strategies LLC bought a new position in shares of lululemon athletica in the fourth quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in shares of lululemon athletica in the first quarter worth $25,000. Cornerstone Planning Group LLC grew its stake in shares of lululemon athletica by 506.3% in the first 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. Zions Bancorporation National Association UT bought a new position in shares of lululemon athletica in the first quarter worth $31,000. Finally, Garde Capital Inc. bought a new position in shares of lululemon athletica in the first quarter worth $35,000. 85.20% of the stock is currently owned by institutional investors.

Insider Activity at lululemon athletica

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 value of $6,375,178.81. Following the transaction, the chief executive officer directly owned 110,564 shares in the company, valued at $26,058,829.16. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company's stock.

lululemon athletica Stock Up 2.6%

LULU stock traded up $5.16 during midday trading on Monday, reaching $203.62. 4,843,052 shares of the company's stock traded hands, compared to its average volume of 2,662,713. The company has a 50-day simple moving average of $224.16 and a two-hundred day simple moving average of $284.87. lululemon athletica inc. has a 1-year low of $185.95 and a 1-year high of $423.32. The company has a market cap of $24.40 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.69 and a beta of 1.16.

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. 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 business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.54 EPS. Equities research analysts forecast that lululemon athletica inc. will post 14.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird decreased their price target on lululemon athletica from $340.00 to $260.00 and set an "outperform" rating for the company in a research note on Monday, August 11th. Barclays cut 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, August 6th. CICC Research restated a "market perform" rating and issued a $280.49 price objective on shares of lululemon athletica in a report on Monday, June 9th. Jefferies Financial Group cut their price objective on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a report on Friday, June 6th. Finally, Truist Financial cut their price objective on lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, lululemon athletica has an average rating of "Moderate Buy" and an average price target of $322.84.

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.