Aviance Capital Partners LLC Acquires New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Aviance Capital Partners LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 5,805 shares of the apparel retailer’s stock, valued at approximately $1,575,000.

A number of other large investors have also recently made changes to their positions in LULU. Larson Financial Group LLC raised its position in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica in the third quarter worth about $29,000. Ridgewood Investments LLC acquired a new stake in Lululemon Athletica during the second quarter worth about $33,000. Finally, Dnca Finance purchased a new position in Lululemon Athletica during the second quarter valued at approximately $34,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the business’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 completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. The trade was a 4.66 % increase in their position. The acquisition was disclosed in a document filed 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 that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on LULU shares. Robert W. Baird lifted their price objective on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price target on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Citigroup reduced their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a report on Monday, August 26th. Finally, The Goldman Sachs Group cut shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.13.

Lululemon Athletica Trading Down 3.3 %

NASDAQ:LULU opened at $309.53 on Tuesday. The stock’s 50 day simple moving average is $287.57 and its 200-day simple moving average is $289.16. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a market cap of $38.00 billion, a P/E ratio of 23.92, a PEG ratio of 2.33 and a beta of 1.24.

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

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.