Royal Fund Management LLC Cuts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Royal Fund Management LLC reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 32.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,861 shares of the apparel retailer’s stock after selling 1,839 shares during the period. Royal Fund Management LLC’s holdings in Lululemon Athletica were worth $1,461,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LULU. Silicon Valley Capital Partners purchased a new position in shares of Lululemon Athletica during the 4th quarter worth about $25,000. SOA Wealth Advisors LLC. purchased a new position in shares of Lululemon Athletica during the 2nd quarter worth about $26,000. Carderock Capital Management Inc. purchased a new position in shares of Lululemon Athletica during the 1st quarter worth about $27,000. Janiczek Wealth Management LLC raised its holdings in Lululemon Athletica by 126.5% in the first quarter. Janiczek Wealth Management LLC now owns 77 shares of the apparel retailer’s stock valued at $28,000 after buying an additional 43 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in Lululemon Athletica in the first quarter valued at approximately $29,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michelle Sun Choe sold 27,981 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the completion of the transaction, the insider now owns 3,892 shares of the company’s stock, valued at $1,560,692. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LULU. Telsey Advisory Group raised their price target on shares of Lululemon Athletica from $430.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Wedbush raised their price target on shares of Lululemon Athletica from $415.00 to $420.00 and gave the company a “buy” rating in a report on Friday, September 1st. BMO Capital Markets raised their price target on shares of Lululemon Athletica from $355.00 to $376.00 and gave the company a “market perform” rating in a report on Friday, September 1st. StockNews.com initiated coverage on shares of Lululemon Athletica in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Barclays lifted their price objective on shares of Lululemon Athletica from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.89.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $382.81 on Tuesday. The company has a market cap of $48.64 billion, a PE ratio of 48.46, a P/E/G ratio of 1.73 and a beta of 1.39. The company has a fifty day moving average price of $382.96 and a two-hundred day moving average price of $364.98. Lululemon Athletica Inc. has a 12 month low of $277.50 and a 12 month high of $406.94.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a net margin of 11.40% and a return on equity of 44.47%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Lululemon Athletica Inc. will post 12.15 earnings per share for the current year.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.