Victory Capital Management Inc. Reduces Stock Position in lululemon athletica inc. (NASDAQ:LULU)

Victory Capital Management Inc. lessened its position in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,465 shares of the apparel retailer's stock after selling 7,133 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of lululemon athletica worth $25,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dnca Finance raised its position in lululemon athletica by 15.1% during the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after purchasing an additional 26 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of lululemon athletica by 1.9% during the fourth quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock worth $668,000 after buying an additional 32 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of lululemon athletica by 0.6% during the fourth quarter. Belpointe Asset Management LLC now owns 6,138 shares of the apparel retailer's stock worth $2,347,000 after buying an additional 36 shares in the last quarter. Colonial Trust Co SC grew its stake 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 purchasing an additional 36 shares during the last quarter. Finally, MV Capital Management Inc. grew its stake in shares of lululemon athletica by 66.1% in the fourth quarter. MV Capital Management Inc. now owns 93 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 37 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. William Blair reaffirmed an "outperform" rating on shares of lululemon athletica in a research report on Thursday, April 3rd. UBS Group decreased their price objective on shares of lululemon athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Piper Sandler raised their price target on shares of lululemon athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Truist Financial cut their price objective on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a report on Friday, June 6th. Finally, Jefferies Financial Group cut their price objective on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $337.53.

Insider Activity

In other news, CEO Calvin Mcdonald sold 27,049 shares of the 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 directly owned 110,564 shares of the company's stock, valued at $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

lululemon athletica Stock Down 2.0%

LULU traded down $4.45 during trading on Thursday, hitting $219.58. The company's stock had a trading volume of 1,873,812 shares, compared to its average volume of 2,550,841. lululemon athletica inc. has a one year low of $218.90 and a one year high of $423.32. The firm has a market cap of $26.32 billion, a PE ratio of 14.86, a P/E/G ratio of 1.90 and a beta of 1.17. The business's 50 day simple moving average is $264.08 and its 200-day simple moving average is $308.74.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. The business had revenue of $2.37 billion for 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 period last year, the firm earned $2.54 earnings per share. Equities research analysts expect 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.