M&T Bank Corp Increases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

M&T Bank Corp lifted its position in Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,822 shares of the apparel retailer’s stock after purchasing an additional 1,939 shares during the period. M&T Bank Corp’s holdings in Lululemon Athletica were worth $13,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LULU. Norges Bank purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth $393,224,000. Schroder Investment Management Group increased its stake in shares of Lululemon Athletica by 4,240.9% in the fourth quarter. Schroder Investment Management Group now owns 839,309 shares of the apparel retailer’s stock worth $328,548,000 after purchasing an additional 819,974 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth $106,257,000. Manning & Napier Group LLC increased its stake in shares of Lululemon Athletica by 201.4% in the first quarter. Manning & Napier Group LLC now owns 324,891 shares of the apparel retailer’s stock worth $118,658,000 after purchasing an additional 217,084 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Lululemon Athletica by 89.2% in the fourth quarter. TD Asset Management Inc. now owns 457,353 shares of the apparel retailer’s stock worth $179,031,000 after purchasing an additional 215,617 shares in the last quarter. 85.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Kourtney Gibson purchased 200 shares of the stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average cost of $280.12 per share, for a total transaction of $56,024.00. Following the acquisition, the director now owns 1,302 shares of the company’s stock, valued at $364,716.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LULU. Credit Suisse Group dropped their target price on shares of Lululemon Athletica from $450.00 to $410.00 and set an “outperform” rating for the company in a research report on Friday, June 3rd. BTIG Research dropped their target price on shares of Lululemon Athletica from $420.00 to $402.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Sanford C. Bernstein upgraded shares of Lululemon Athletica to a “hold” rating and set a $300.00 target price for the company in a research report on Friday, June 24th. Barclays dropped their target price on shares of Lululemon Athletica from $450.00 to $435.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Finally, BMO Capital Markets dropped their target price on shares of Lululemon Athletica from $344.00 to $304.00 in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $402.61.

Lululemon Athletica Price Performance

LULU stock opened at $317.80 on Friday. The company has a market capitalization of $40.56 billion, a PE ratio of 40.38, a P/E/G ratio of 1.68 and a beta of 1.30. Lululemon Athletica Inc. has a 12 month low of $251.51 and a 12 month high of $485.83. The firm’s 50-day moving average is $291.10 and its 200 day moving average is $315.09.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last posted its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.55 billion. Lululemon Athletica had a net margin of 15.36% and a return on equity of 39.23%. The firm’s revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. Sell-side analysts forecast that Lululemon Athletica Inc. will post 9.44 EPS for the current fiscal year.

Lululemon Athletica Company Profile

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lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.