River Road Asset Management LLC Buys Shares of 292,989 Lululemon Athletica Inc. (NASDAQ:LULU)

River Road Asset Management LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 292,989 shares of the apparel retailer’s stock, valued at approximately $79,503,000. River Road Asset Management LLC owned about 0.24% of Lululemon Athletica as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Lululemon Athletica by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock worth $3,847,103,000 after purchasing an additional 154,985 shares in the last quarter. Value Star Asset Management Hong Kong Ltd grew its holdings in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after purchasing an additional 4,630,466 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Lululemon Athletica by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Lululemon Athletica by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after buying an additional 37,239 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 0.3 %

NASDAQ:LULU opened at $319.02 on Tuesday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The stock has a market cap of $39.17 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.34 and a beta of 1.24. The stock has a 50-day moving average price of $275.45 and a two-hundred day moving average price of $292.08.

Lululemon Athletica (NASDAQ:LULU) last posted 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. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations 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 was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 earnings per share. Sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analyst Weigh In

LULU has been the subject of several analyst reports. Citigroup cut their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their target price for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $310.00 target price on shares of Lululemon Athletica in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen cut their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.55.

Insider Activity

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost 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 approximately $23,379,720. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated 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 approximately $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

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.