lululemon athletica inc. (NASDAQ:LULU) Shares Sold by Mawer Investment Management Ltd.

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. lessened its position in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and 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 makes up 1.8% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 16th largest holding. Mawer Investment Management Ltd. owned approximately 1.10% of lululemon athletica worth $374,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of lululemon athletica in the 1st quarter valued at $25,000. TCTC Holdings LLC raised its holdings in shares of lululemon athletica by 91.3% in the 1st quarter. TCTC Holdings LLC now owns 132 shares of the apparel retailer's stock valued at $37,000 after buying an additional 63 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of lululemon athletica in the 1st quarter valued at $194,000. Patten & Patten Inc. TN raised its holdings in shares of lululemon athletica by 0.6% in the 1st quarter. Patten & Patten Inc. TN now owns 10,199 shares of the apparel retailer's stock valued at $2,887,000 after buying an additional 65 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of lululemon athletica by 123.3% in the 1st quarter. Mackenzie Financial Corp now owns 32,467 shares of the apparel retailer's stock valued at $9,190,000 after buying an additional 17,929 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

lululemon athletica Stock Down 4.2%

LULU traded down $8.49 on Friday, hitting $192.04. 3,246,456 shares of the company traded hands, compared to its average volume of 2,585,660. The company has a 50 day moving average of $251.01 and a 200-day moving average of $301.20. The stock has a market capitalization of $23.02 billion, a PE ratio of 13.01, a PEG ratio of 1.76 and a beta of 1.17. lululemon athletica inc. has a 12-month low of $192.10 and a 12-month high of $423.32.

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

Analysts Set New Price Targets

Several research firms recently issued reports on LULU. Truist Financial cut their price objective on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Robert W. Baird cut their price target on lululemon athletica from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. BMO Capital Markets cut their price target on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a report on Friday, June 6th. Telsey Advisory Group restated an "outperform" rating and set a $385.00 price target on shares of lululemon athletica in a report on Monday, June 2nd. Finally, Jefferies Financial Group cut their price target on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating on the stock in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $333.57.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the transaction, the chief executive officer directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.