Gilliland Jeter Wealth Management LLC Sells 1,077 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Gilliland Jeter Wealth Management LLC cut its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,320 shares of the apparel retailer’s stock after selling 1,077 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Lululemon Athletica were worth $358,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new position in Lululemon Athletica during the 1st quarter worth about $48,000. RFG Advisory LLC lifted its position in shares of Lululemon Athletica by 6.0% during the first quarter. RFG Advisory LLC now owns 1,547 shares of the apparel retailer’s stock worth $604,000 after purchasing an additional 87 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in shares of Lululemon Athletica by 7.0% during the first quarter. Gulf International Bank UK Ltd now owns 1,149 shares of the apparel retailer’s stock valued at $448,000 after purchasing an additional 75 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lululemon Athletica by 7.1% in the first quarter. International Assets Investment Management LLC now owns 1,442 shares of the apparel retailer’s stock valued at $555,000 after purchasing an additional 96 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in Lululemon Athletica by 129.3% in the 1st quarter. AdvisorNet Financial Inc now owns 337 shares of the apparel retailer’s stock worth $132,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LULU. Robert W. Baird decreased their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Barclays dropped their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Finally, Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $354.55.

Lululemon Athletica Price Performance

LULU opened at $291.63 on Monday. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.99 and a beta of 1.25. The business’s 50-day moving average price is $265.04 and its two-hundred day moving average price is $295.53. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

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

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the company’s 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 sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Company 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.