S Bank Fund Management Ltd Makes New Investment in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• S Bank Fund Management Ltd has acquired a $4.70 million stake in lululemon athletica inc., purchasing 16,586 shares during the first quarter.
• Wall Street analysts have varying ratings for lululemon, with one analyst giving a sell rating, while others have assigned a mix of buy and outperform ratings, contributing to a consensus rating of "Moderate Buy" with a price target of $327.15.
• CEO Calvin McDonald sold 27,049 shares for over $6 million, representing a 19.66% decrease in his ownership position.

S Bank Fund Management Ltd acquired a new stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,586 shares of the apparel retailer's stock, valued at approximately $4,695,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dnca Finance lifted its holdings in shares of lululemon athletica by 15.1% in the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock worth $76,000 after acquiring an additional 26 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of lululemon athletica by 1.9% in the fourth quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock worth $668,000 after acquiring an additional 32 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of lululemon athletica by 0.6% in the fourth quarter. Belpointe Asset Management LLC now owns 6,138 shares of the apparel retailer's stock worth $2,347,000 after acquiring an additional 36 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of lululemon athletica by 2.1% in the fourth quarter. Colonial Trust Co SC now owns 1,737 shares of the apparel retailer's stock worth $664,000 after acquiring an additional 36 shares during the last quarter. Finally, Manhattan West Asset Management LLC lifted its holdings in shares of lululemon athletica by 5.4% in the first quarter. Manhattan West Asset Management LLC now owns 724 shares of the apparel retailer's stock worth $205,000 after acquiring an additional 37 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction on Friday, June 27th. The shares were 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 owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company's stock.

lululemon athletica Stock Performance

Shares of LULU stock traded down $5.30 during trading hours on Thursday, hitting $195.19. 4,034,136 shares of the company were exchanged, compared to its average volume of 3,145,994. The firm has a market cap of $23.39 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.71 and a beta of 1.16. 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 50 day simple moving average of $225.49 and a two-hundred day simple moving average of $288.14.

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, hitting the consensus estimate of $2.60. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 EPS. As a group, sell-side analysts expect that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on LULU shares. BTIG Research dropped their target price on shares of lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday, June 6th. JPMorgan Chase & Co. lowered shares of lululemon athletica from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $303.00 to $224.00 in a report on Tuesday, July 22nd. Robert W. Baird dropped their price objective on shares of lululemon athletica from $340.00 to $260.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley reiterated an "equal weight" rating and issued a $280.00 price objective (down previously from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $327.15.

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.