Silvant Capital Management LLC Decreases Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Silvant Capital Management LLC lowered its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 74.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,374 shares of the apparel retailer’s stock after selling 10,020 shares during the quarter. Silvant Capital Management LLC’s holdings in Lululemon Athletica were worth $916,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in Lululemon Athletica during the 3rd quarter worth $221,000. Farther Finance Advisors LLC increased its position in shares of Lululemon Athletica by 58.0% during the third quarter. Farther Finance Advisors LLC now owns 3,461 shares of the apparel retailer’s stock worth $939,000 after acquiring an additional 1,270 shares during the last quarter. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica during the third quarter worth about $953,000. Silver Coast Investments LLC lifted its stake in shares of Lululemon Athletica by 19.9% in the third quarter. Silver Coast Investments LLC now owns 916 shares of the apparel retailer’s stock worth $249,000 after acquiring an additional 152 shares in the last quarter. Finally, Lebenthal Global Advisors LLC grew its stake in Lululemon Athletica by 23.4% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 1,133 shares of the apparel retailer’s stock valued at $307,000 after purchasing an additional 215 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on LULU shares. JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. UBS Group cut their target price on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Wedbush decreased their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Wells Fargo & Company cut their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Finally, TD Securities lifted their target price on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $354.55.

Lululemon Athletica Stock Up 7.8 %

LULU stock opened at $321.17 on Friday. The company has a 50-day simple moving average of $274.52 and a 200 day simple moving average of $292.97. The company has a market capitalization of $39.43 billion, a P/E ratio of 24.82, a PEG ratio of 2.21 and a beta of 1.25. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

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. 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 during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $2.68 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Activity

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were 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 approximately $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

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.