Synovus Financial Corp Buys 1,329 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Synovus Financial Corp lifted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 46.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,191 shares of the apparel retailer’s stock after buying an additional 1,329 shares during the quarter. Synovus Financial Corp’s holdings in Lululemon Athletica were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LULU. Larson Financial Group LLC boosted its holdings in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 43 shares during the period. Paladin Wealth LLC bought a new position in Lululemon Athletica in the 3rd quarter valued at $29,000. JFS Wealth Advisors LLC lifted its position in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Lululemon Athletica in the second quarter valued at approximately $33,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 46 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LULU has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. UBS Group increased their price target on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets lifted their price objective on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. TD Cowen increased their target price on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $389.74 on Tuesday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock’s 50 day moving average price is $321.16 and its two-hundred day moving average price is $292.00. The stock has a market capitalization of $47.85 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.84 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. 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 firm posted $2.53 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.17 EPS for the current year.

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.