Mackenzie Financial Corp Acquires 17,929 Shares of lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Mackenzie Financial Corp increased its holdings in lululemon athletica inc. by 123.3%, acquiring an additional 17,929 shares in the first quarter, bringing their total ownership to 32,467 shares valued at $9.19 million.
• Analysts have mixed ratings on lululemon's stock, with estimates suggesting an average price target of $333.57 and a consensus rating of "Moderate Buy".
• CEO Calvin Mcdonald recently sold 27,049 shares of the company's stock at an average price of $235.69, resulting in a significant decrease of 19.66% in his ownership stake.

Mackenzie Financial Corp lifted its position in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 123.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,467 shares of the apparel retailer's stock after acquiring an additional 17,929 shares during the period. Mackenzie Financial Corp's holdings in lululemon athletica were worth $9,190,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in lululemon athletica in the 4th quarter worth approximately $429,000. Fourth Dimension Wealth LLC purchased a new stake in lululemon athletica in the 4th quarter worth approximately $61,000. O Shaughnessy Asset Management LLC lifted its position in lululemon athletica by 39.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,093 shares of the apparel retailer's stock worth $2,712,000 after buying an additional 2,011 shares in the last quarter. Geode Capital Management LLC lifted its position in lululemon athletica by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock worth $947,682,000 after buying an additional 10,461 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in lululemon athletica by 4.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,080 shares of the apparel retailer's stock worth $795,000 after buying an additional 91 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

lululemon athletica Stock Down 3.6%

Shares of LULU stock traded down $7.20 on Friday, reaching $193.33. The company had a trading volume of 4,678,061 shares, compared to its average volume of 2,882,063. The stock has a market capitalization of $23.17 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17. lululemon athletica inc. has a one year low of $191.44 and a one year high of $423.32. The business's 50-day moving average is $248.66 and its 200 day moving average is $299.85.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its 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. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $2.54 EPS. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LULU. TD Securities boosted their price objective on shares of lululemon athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Needham & Company LLC reduced their price objective on shares of lululemon athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research note on Friday, June 6th. UBS Group cut their target price on shares of lululemon athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Barclays cut their target price on shares of lululemon athletica from $276.00 to $270.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. Finally, Bank of America cut their target price on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $333.57.

Insider Activity at lululemon athletica

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 shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

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.