Alerus Financial NA Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Alerus Financial NA reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 22.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,264 shares of the apparel retailer’s stock after selling 947 shares during the quarter. Alerus Financial NA’s holdings in Lululemon Athletica were worth $886,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in Lululemon Athletica by 61.5% during the second 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. Rockline Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 1.3% in the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock valued at $990,000 after buying an additional 43 shares during the period. Larson Financial Group LLC boosted its stake in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock worth $34,000 after acquiring an additional 46 shares during the period. Finally, WD Rutherford LLC raised its position in Lululemon Athletica by 0.8% in the second quarter. WD Rutherford LLC now owns 6,421 shares of the apparel retailer’s stock worth $1,918,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU opened at $320.66 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company’s 50 day simple moving average is $297.19 and its 200 day simple moving average is $287.43. The stock has a market capitalization of $39.37 billion, a PE ratio of 24.78, a P/E/G ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 EPS. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.01 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 Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on LULU. Sanford C. Bernstein decreased 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 report on Friday, August 30th. Raymond James lowered their target price on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, September 2nd. 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 report on Tuesday, November 5th. KeyCorp decreased their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Guggenheim dropped their price objective on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $356.03.

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.