M&T Bank Corp Reduces Stock Position in lululemon athletica inc. (NASDAQ:LULU)

M&T Bank Corp lowered its holdings in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,164 shares of the apparel retailer's stock after selling 1,065 shares during the period. M&T Bank Corp's holdings in lululemon athletica were worth $2,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Narwhal Capital Management increased its holdings in lululemon athletica by 262.7% during the 1st quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after acquiring an additional 13,600 shares during the period. Sawgrass Asset Management LLC bought a new stake in lululemon athletica during the 1st quarter worth approximately $9,209,000. Bender Robert & Associates increased its holdings in lululemon athletica by 18.5% during the 1st quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock worth $12,727,000 after acquiring an additional 7,028 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in lululemon athletica during the 1st quarter worth approximately $1,898,000. Finally, Boston Trust Walden Corp increased its holdings in lululemon athletica by 3.8% during the 1st quarter. Boston Trust Walden Corp now owns 146,630 shares of the apparel retailer's stock worth $41,505,000 after acquiring an additional 5,363 shares during the period. Institutional investors own 85.20% of the company's stock.

lululemon athletica Stock Performance

Shares of lululemon athletica stock traded down $7.12 during trading on Monday, hitting $229.39. The company's stock had a trading volume of 1,816,891 shares, compared to its average volume of 2,340,834. The company has a fifty day simple moving average of $274.21 and a two-hundred day simple moving average of $316.37. The company has a market capitalization of $27.49 billion, a PE ratio of 15.53, a P/E/G ratio of 2.00 and a beta of 1.17. lululemon athletica inc. has a 52 week low of $219.97 and a 52 week high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced 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. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that lululemon athletica inc. will post 14.36 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on LULU. Truist Financial cut their price target 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. BTIG Research cut their price target on shares of lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research note on Friday, June 6th. BMO Capital Markets cut their price target on shares of lululemon athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research note on Friday, June 6th. Argus cut shares of lululemon athletica from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $385.00 price target on shares of lululemon athletica in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.26.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction dated 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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

About lululemon athletica

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.