M&T Bank Corp Buys 5,157 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

M&T Bank Corp grew its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 56.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,337 shares of the apparel retailer’s stock after purchasing an additional 5,157 shares during the quarter. M&T Bank Corp’s holdings in Lululemon Athletica were worth $3,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Shepherd Financial Partners LLC bought a new position in Lululemon Athletica during the third quarter worth $953,000. XTX Topco Ltd grew its holdings in Lululemon Athletica by 281.4% during the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after acquiring an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after acquiring an additional 3,721 shares in the last quarter. Rheos Capital Works Inc. lifted its stake in shares of Lululemon Athletica by 19.2% in the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Lululemon Athletica by 198.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after purchasing an additional 4,564 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 2.6 %

Shares of NASDAQ LULU opened at $389.33 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The firm has a market capitalization of $47.80 billion, a P/E ratio of 28.11, a P/E/G ratio of 2.87 and a beta of 1.23. The stock’s 50-day simple moving average is $313.85 and its two-hundred day simple moving average is $290.16.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LULU shares. Sanford C. Bernstein dropped their price target on 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. Needham & Company LLC reissued a “hold” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Barclays lifted their price target on shares of Lululemon Athletica from $261.00 to $378.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research report on Monday. Finally, TD Cowen decreased 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 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. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity

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