Mawer Investment Management Ltd. Decreases Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Mawer Investment Management Ltd. sold 46,227 shares of lululemon athletica, reducing its stake by 3.4% to a total of 1,322,776 shares.
• Several large investors increased their holdings in lululemon, with Narwhal Capital Management boosting its stake by 262.7% and Sawgrass Asset Management purchasing a new position worth $9,209,000.
• lululemon athletica reported earnings of $2.60 per share, meeting analysts' estimates, with a revenue of $2.37 billion for the last quarter, reflecting a 7.3% year-over-year increase.

Mawer Investment Management Ltd. decreased its position in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,322,776 shares of the apparel retailer's stock after selling 46,227 shares during the quarter. lululemon athletica accounts for approximately 1.8% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 16th largest holding. Mawer Investment Management Ltd. owned 1.10% of lululemon athletica worth $374,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in lululemon athletica during the first quarter valued at $25,000. Cornerstone Planning Group LLC grew its stake in lululemon athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after acquiring an additional 81 shares during the period. Anderson Financial Strategies LLC purchased a new stake in lululemon athletica in the 4th quarter worth $30,000. Garde Capital Inc. purchased a new position in lululemon athletica during the first quarter valued at $35,000. Finally, CENTRAL TRUST Co grew its position 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. Institutional investors and hedge funds own 85.20% of the company's stock.

lululemon athletica Stock Down 1.2%

LULU traded down $2.55 during trading on Tuesday, hitting $214.04. 2,580,345 shares of the stock were exchanged, compared to its average volume of 2,895,056. lululemon athletica inc. has a 1-year low of $213.88 and a 1-year high of $423.32. The stock has a fifty day moving average price of $255.63 and a two-hundred day moving average price of $303.23. The firm has a market capitalization of $25.65 billion, a P/E ratio of 14.50, a PEG ratio of 1.84 and a beta of 1.17.

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. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The firm 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 earned $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Activity

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica 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 transaction, the chief executive officer directly owned 110,564 shares in the company, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. CICC Research restated a "market perform" rating and set a $280.49 price target on shares of lululemon athletica in a research report on Monday, June 9th. Cfra Research raised lululemon athletica from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Citigroup lowered their target price on shares of lululemon athletica from $325.00 to $270.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. The Goldman Sachs Group decreased their price target on shares of lululemon athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial dropped their price objective on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, lululemon athletica has a consensus rating of "Moderate Buy" and an average price target of $333.57.

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.