Resona Asset Management Co. Ltd. Has $11.57 Million Holdings in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in lululemon athletica by 6.5%, owning 40,660 shares valued at approximately $11.57 million as of the end of the most recent quarter.
• Several other institutional investors, including Dnca Finance and Lido Advisors LLC, have also raised their holdings in lululemon during the same period, reflecting strong institutional interest with 85.20% of the stock owned by such investors.
• Despite recent price target adjustments by various brokerages, the stock has a consensus rating of "Moderate Buy" with a current average price target of $327.15.

Resona Asset Management Co. Ltd. boosted its stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,660 shares of the apparel retailer's stock after buying an additional 2,485 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in lululemon athletica were worth $11,569,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Dnca Finance boosted its stake in lululemon athletica by 15.1% in the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after buying an additional 26 shares in the last quarter. Lido Advisors LLC boosted its stake in lululemon athletica by 1.9% in the 4th quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock valued at $668,000 after buying an additional 32 shares in the last quarter. Colonial Trust Co SC boosted its stake in lululemon athletica by 2.1% in the 4th quarter. Colonial Trust Co SC now owns 1,737 shares of the apparel retailer's stock valued at $664,000 after buying an additional 36 shares in the last quarter. Manhattan West Asset Management LLC boosted its stake in lululemon athletica by 5.4% in the 1st quarter. Manhattan West Asset Management LLC now owns 724 shares of the apparel retailer's stock valued at $205,000 after buying an additional 37 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its stake in lululemon athletica by 30.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the apparel retailer's stock valued at $63,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Activity

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 110,564 shares in the company, valued at $26,058,829.16. This 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 through the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LULU. 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. TD Securities boosted their price target on lululemon athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group cut their price objective on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Jefferies Financial Group cut their price objective on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $327.15.

lululemon athletica Trading Up 3.9%

NASDAQ LULU opened at $200.49 on Thursday. The stock has a 50-day simple moving average of $228.21 and a 200 day simple moving average of $289.57. The company has a market capitalization of $24.03 billion, a PE ratio of 13.58, a P/E/G ratio of 1.64 and a beta of 1.16. lululemon athletica inc. has a 12 month low of $185.95 and a 12 month high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting analysts' consensus estimates of $2.60. The business 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.54 earnings per share. As a group, sell-side analysts predict that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

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.

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