Fred Alger Management LLC Sells 26,174 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Fred Alger Management LLC decreased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 96.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 904 shares of the apparel retailer’s stock after selling 26,174 shares during the period. Fred Alger Management LLC’s holdings in Lululemon Athletica were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LULU. Value Star Asset Management Hong Kong Ltd boosted its stake in shares of Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after purchasing an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after acquiring an additional 894,531 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after acquiring an additional 305,302 shares during the period. River Road Asset Management LLC bought a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $79,503,000. Finally, Marshall Wace LLP lifted its stake in shares of Lululemon Athletica by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock valued at $61,084,000 after purchasing an additional 283,344 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on LULU. Bank of America dropped their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday, August 30th. Robert W. Baird increased their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. TD Securities boosted their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Piper Sandler upped their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC assumed coverage on shares of Lululemon Athletica in a report on Friday, November 22nd. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $356.03.

Lululemon Athletica Stock Up 0.4 %

LULU stock opened at $320.66 on Monday. The company has a market cap of $39.37 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The business has a 50-day simple moving average of $297.19 and a 200 day simple moving average of $287.01.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 EPS. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.01 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 4.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% 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.