MetLife Investment Management LLC Reduces Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

MetLife Investment Management LLC decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,498 shares of the apparel retailer’s stock after selling 770 shares during the quarter. MetLife Investment Management LLC’s holdings in Lululemon Athletica were worth $9,632,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Paladin Wealth LLC purchased a new stake in Lululemon Athletica in the third quarter valued at about $29,000. Versant Capital Management Inc boosted its stake in Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Lululemon Athletica during the 2nd quarter worth about $33,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $319.52 on Friday. The stock has a market capitalization of $39.23 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 2.32 and a beta of 1.24. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock has a fifty day moving average of $296.03 and a 200-day moving average of $288.06.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica 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 value 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 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp cut their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Stifel Nicolaus reduced their price objective on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Truist Financial increased their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC assumed coverage on shares of Lululemon Athletica in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Finally, Morgan Stanley upped their price objective on shares of Lululemon Athletica from $314.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $356.03.

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.