lululemon athletica inc. (NASDAQ:LULU) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in lululemon athletica by 10.2%, owning approximately 210,234 shares valued at about $59.5 million.
• Several other institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., also boosted their positions significantly in lululemon athletica, indicating strong institutional interest in the company.
• Analysts have mixed outlooks for lululemon, with recent price targets adjusted down by firms like Jefferies and Citigroup, while maintaining a consensus rating of "Moderate Buy" with a target price of approximately $329.91.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,234 shares of the apparel retailer's stock after purchasing an additional 19,470 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of lululemon athletica worth $59,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD raised its stake in shares of lululemon athletica by 95.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock valued at $1,854,160,000 after buying an additional 2,371,079 shares during the last quarter. GAMMA Investing LLC boosted its holdings in lululemon athletica by 37,062.1% in the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock worth $159,364,000 after buying an additional 561,491 shares during the last quarter. Capital World Investors boosted its holdings in lululemon athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock worth $827,338,000 after buying an additional 556,406 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in lululemon athletica by 128.2% during the fourth quarter. Ameriprise Financial Inc. now owns 706,300 shares of the apparel retailer's stock worth $270,223,000 after buying an additional 396,732 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of lululemon athletica by 9,067.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 298,752 shares of the apparel retailer's stock valued at $114,246,000 after buying an additional 295,493 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird decreased their price target on lululemon athletica from $340.00 to $260.00 and set an "outperform" rating on the stock in a research note on Monday. CICC Research restated a "market perform" rating and issued a $280.49 price target on shares of lululemon athletica in a research note on Monday, June 9th. Needham & Company LLC reduced their target price on lululemon athletica from $366.00 to $317.00 and set a "buy" rating for the company in a report on Friday, June 6th. Morgan Stanley reissued an "equal weight" rating and issued a $280.00 target price (down from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. Finally, Truist Financial dropped their price target on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $327.15.

Insider Transactions at lululemon athletica

In other news, CEO Calvin Mcdonald sold 27,049 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company's stock.

lululemon athletica Stock Up 3.5%

Shares of LULU stock traded up $6.49 on Tuesday, reaching $192.93. 3,386,165 shares of the stock were exchanged, compared to its average volume of 2,614,365. The stock has a market cap of $23.12 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The firm has a 50 day moving average of $233.74 and a two-hundred day moving average of $290.87. lululemon athletica inc. has a 1-year low of $185.95 and a 1-year high of $423.32.

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