The Manufacturers Life Insurance Company trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 79.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,527 shares of the apparel retailer’s stock after selling 157,243 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lululemon Athletica were worth $12,532,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of LULU. Edgewood Management LLC bought a new position in Lululemon Athletica during the 4th quarter worth $824,128,000. Marshall Wace LLP raised its position in Lululemon Athletica by 31.1% during the 3rd quarter. Marshall Wace LLP now owns 1,060,970 shares of the apparel retailer’s stock worth $296,607,000 after purchasing an additional 251,546 shares during the last quarter. Winslow Capital Management LLC raised its position in Lululemon Athletica by 21.0% during the 4th quarter. Winslow Capital Management LLC now owns 1,319,850 shares of the apparel retailer’s stock worth $422,854,000 after purchasing an additional 228,913 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Lululemon Athletica by 68.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 409,577 shares of the apparel retailer’s stock worth $114,501,000 after purchasing an additional 166,839 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new position in Lululemon Athletica during the 4th quarter worth $46,297,000. 82.04% of the stock is currently owned by institutional investors.
Lululemon Athletica Stock Up 1.5 %
Lululemon Athletica stock opened at $360.40 on Friday. Lululemon Athletica Inc. has a 52 week low of $258.79 and a 52 week high of $389.06. The company’s 50 day moving average price is $366.25 and its two-hundred day moving average price is $337.61. The stock has a market cap of $45.83 billion, a P/E ratio of 48.18, a P/E/G ratio of 1.48 and a beta of 1.40.
Analysts Set New Price Targets
A number of analysts have weighed in on LULU shares. Barclays increased their price target on Lululemon Athletica from $413.00 to $430.00 in a report on Monday, June 5th. Robert W. Baird increased their price target on Lululemon Athletica from $430.00 to $435.00 in a report on Friday, June 2nd. Citigroup increased their price target on Lululemon Athletica from $440.00 to $450.00 in a report on Monday, June 5th. KGI Securities upgraded Lululemon Athletica from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 29th. Finally, BMO Capital Markets increased their price target on Lululemon Athletica from $340.00 to $355.00 in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $413.22.
Insider Buying and Selling
In related news, insider Celeste Burgoyne sold 17,343 shares of Lululemon Athletica stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $362.00, for a total value of $6,278,166.00. Following the sale, the insider now owns 15,302 shares of the company’s stock, valued at approximately $5,539,324. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.
Lululemon Athletica Profile
lululemon athletica, Inc engages in the business of designing, distributing, and retailing technical athletic apparel, footwear, and accessories. It operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The company was founded by Dennis James Wilson in 1998 and is headquartered in Vancouver, Canada.
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