Mizuho Markets Americas LLC Increases Holdings in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Mizuho Markets Americas LLC increased its stake in lululemon athletica by 134.2% to a total of 22,025 shares, valued at approximately $6.23 million at the end of the first quarter.
• Institutional investors and hedge funds collectively own 85.20% of lululemon's stock, with multiple firms enhancing their positions in the company during the previous quarter.
• lululemon athletica reported earnings of $2.60 per share, meeting analysts' expectations, and experienced a year-over-year revenue growth of 7.3% to $2.37 billion.

Mizuho Markets Americas LLC increased its stake in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 134.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,025 shares of the apparel retailer's stock after purchasing an additional 12,619 shares during the quarter. Mizuho Markets Americas LLC's holdings in lululemon athletica were worth $6,234,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in 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 in the last quarter. GAMMA Investing LLC increased its position in lululemon athletica by 37,062.1% during the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after buying an additional 561,491 shares in the last quarter. Capital World Investors increased its position in lululemon athletica by 34.6% during the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares in the last quarter. Ameriprise Financial Inc. increased its position in lululemon athletica by 128.2% during the 4th quarter. Ameriprise Financial Inc. now owns 706,300 shares of the apparel retailer's stock valued at $270,223,000 after buying an additional 396,732 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in lululemon athletica by 9,067.0% during 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 in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LULU shares. Bank of America cut their price objective on lululemon athletica from $400.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, June 6th. UBS Group cut their price objective on lululemon athletica from $330.00 to $290.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. 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. Morgan Stanley reissued an "equal weight" rating and issued a $280.00 price objective (down from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. Finally, Wells Fargo & Company cut their price objective on lululemon athletica from $270.00 to $225.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. One equities research 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $327.15.

lululemon athletica Stock Performance

Shares of NASDAQ LULU traded up $6.49 during trading on Tuesday, reaching $192.93. The stock had a trading volume of 3,390,657 shares, compared to its average volume of 3,164,083. lululemon athletica inc. has a fifty-two week low of $185.95 and a fifty-two week high of $423.32. The company has a market cap of $23.12 billion, a P/E ratio of 13.07, a PEG ratio of 1.59 and a beta of 1.16. The business's 50-day moving average price is $230.90 and its 200-day moving average price is $290.19.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting 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 analysts' expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction 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 $26,058,829.16. The trade was a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by 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.