TD Asset Management Inc Boosts Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• TD Asset Management Inc increased its position in lululemon athletica by 66% in the first quarter, now holding 107,591 shares valued at approximately $30.5 million.
• CEO Calvin McDonald sold 27,049 shares of lululemon, marking a 19.66% decrease in his ownership, which now totals 110,564 shares valued at over $26 million.
• Analysts have a consensus price target for lululemon athletica set at $337.53, with ratings ranging from sell to strong buy across various firms.

TD Asset Management Inc boosted its stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,591 shares of the apparel retailer's stock after purchasing an additional 42,776 shares during the quarter. TD Asset Management Inc owned about 0.09% of lululemon athletica worth $30,455,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LULU. Brighton Jones LLC bought a new stake in shares of lululemon athletica in the 4th quarter worth about $429,000. Fourth Dimension Wealth LLC bought a new stake in shares of lululemon athletica in the 4th quarter worth about $61,000. Norges Bank bought a new stake in shares of lululemon athletica in the 4th quarter worth about $142,235,000. Brown Brothers Harriman & Co. increased its holdings in shares of lululemon athletica by 986.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 858 shares of the apparel retailer's stock worth $328,000 after buying an additional 779 shares during the last quarter. Finally, Allstate Corp bought a new stake in shares of lululemon athletica in the 4th quarter worth about $1,252,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica 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 owned 110,564 shares in the company, valued at $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 available through this link. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LULU. Bank of America lowered their price target 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. Evercore ISI upped their price target on shares of lululemon athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Needham & Company LLC cut their price target on shares of lululemon athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a report on Friday, June 6th. UBS Group cut their price target on shares of lululemon athletica from $330.00 to $290.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Finally, CICC Research reiterated a "market perform" rating and set a $280.49 price target on shares of lululemon athletica in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $333.57.

lululemon athletica Price Performance

LULU stock traded down $6.92 during midday trading on Friday, hitting $193.61. 2,436,804 shares of the stock traded hands, compared to its average volume of 2,580,157. The firm has a market cap of $23.20 billion, a P/E ratio of 13.12, a PEG ratio of 1.76 and a beta of 1.17. The stock's fifty day simple moving average is $251.01 and its 200-day simple moving average is $301.20. lululemon athletica inc. has a 1-year low of $193.38 and a 1-year high of $423.32.

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