Cullen Frost Bankers Inc. Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Cullen Frost Bankers Inc. trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,304 shares of the apparel retailer’s stock after selling 1,054 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Lululemon Athletica were worth $6,235,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Maverick Capital Ltd. purchased a new position in shares of Lululemon Athletica in the third quarter valued at approximately $93,476,000. The Manufacturers Life Insurance Company lifted 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 buying an additional 305,302 shares in the last quarter. Southpoint Capital Advisors LP purchased a new position in Lululemon Athletica in the 3rd quarter valued at approximately $81,405,000. Los Angeles Capital Management LLC grew its stake in shares of Lululemon Athletica by 248.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer’s stock worth $123,530,000 after acquiring an additional 230,349 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Lululemon Athletica by 151.0% during the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock worth $99,744,000 after acquiring an additional 221,112 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LULU has been the subject of several analyst reports. Truist Financial boosted their target price on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company boosted their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. UBS Group raised their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Robert W. Baird raised their price objective on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.14.

Lululemon Athletica Stock Down 0.5 %

Shares of LULU stock opened at $347.94 on Friday. The stock’s 50-day moving average price is $383.81 and its 200 day moving average price is $331.76. The stock has a market capitalization of $42.37 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the transaction, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica 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.