West Coast Financial LLC Buys New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

West Coast Financial LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,680 shares of the apparel retailer’s stock, valued at approximately $8,054,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth $26,000. Benjamin Edwards Inc. increased its position in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares during the period. Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the first quarter worth $29,000. Larson Financial Group LLC grew its stake in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $31,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LULU has been the subject of a number of analyst reports. Raymond James lowered their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, September 2nd. Piper Sandler boosted their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Wells Fargo & Company decreased their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Wedbush decreased their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $354.55.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded up $3.62 during trading on Friday, hitting $277.20. 412,060 shares of the company were exchanged, compared to its average volume of 2,112,510. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market cap of $34.03 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.99 and a beta of 1.25. The firm’s fifty day moving average price is $259.00 and its 200 day moving average price is $300.87.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current 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.