Swiss National Bank Sells 3,100 Shares of lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Swiss National Bank has reduced its stake in lululemon athletica by 1.0%, owning 312,600 shares valued at approximately $88.5 million at the end of the 1st quarter.
• During the same period, several hedge funds increased their investments in lululemon, with CENTRAL TRUST Co raising its stake by 154.9%.
• lululemon reported earnings per share of $2.60 for the last quarter, matching estimates, with a 7.3% increase in revenue year-over-year.

Swiss National Bank lessened its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 312,600 shares of the apparel retailer's stock after selling 3,100 shares during the quarter. Swiss National Bank owned about 0.26% of lululemon athletica worth $88,485,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LULU. N.E.W. Advisory Services LLC bought a new stake in shares of lululemon athletica during the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in lululemon athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after buying an additional 81 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in lululemon athletica in the 4th quarter worth approximately $30,000. Garde Capital Inc. bought a new stake in lululemon athletica in the 1st quarter worth approximately $35,000. Finally, CENTRAL TRUST Co lifted its position in lululemon athletica by 154.9% in the 1st quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock worth $37,000 after buying an additional 79 shares during the last quarter. Institutional investors own 85.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LULU shares. Evercore ISI boosted their target price on lululemon athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Barclays dropped their target price on lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. BMO Capital Markets dropped their target price on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research report on Friday, June 6th. Telsey Advisory Group restated an "outperform" rating and issued a $385.00 target price on shares of lululemon athletica in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group dropped their target price on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $327.15.

Insider Activity

In other news, CEO Calvin Mcdonald sold 27,049 shares of the firm'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 value of $6,375,178.81. Following the completion of the sale, the chief executive officer directly owned 110,564 shares of the company's stock, 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. 0.54% of the stock is owned by insiders.

lululemon athletica Price Performance

Shares of NASDAQ:LULU traded up $6.49 during trading on Tuesday, hitting $192.93. 3,390,657 shares of the company's stock were exchanged, compared to its average volume of 2,614,365. lululemon athletica inc. has a 52-week low of $185.95 and a 52-week high of $423.32. The business's 50-day simple moving average is $233.74 and its 200 day simple moving average is $290.87. The company has a market cap of $23.12 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.61 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

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.