OVERSEA CHINESE BANKING Corp Ltd Has $1.59 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 40.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,101 shares of the apparel retailer’s stock after selling 2,759 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lululemon Athletica were worth $1,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LULU. Diamond Hill Capital Management Inc. acquired a new position in Lululemon Athletica during the 4th quarter worth about $370,062,000. Maverick Capital Ltd. bought a new stake in Lululemon Athletica during the 3rd quarter worth about $93,476,000. The Manufacturers Life Insurance Company raised its holdings in Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Lululemon Athletica during the 3rd quarter worth about $81,405,000. Finally, Los Angeles Capital Management LLC raised its holdings in Lululemon Athletica by 248.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer’s stock worth $123,530,000 after purchasing an additional 230,349 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LULU. Wells Fargo & Company boosted their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Raymond James reissued an “outperform” rating and set a $430.00 price objective (up from $400.00) on shares of Lululemon Athletica in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their price target for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $398.83.

Lululemon Athletica Trading Up 2.0 %

NASDAQ LULU opened at $329.57 on Thursday. The company has a market cap of $40.14 billion, a PE ratio of 23.80, a PEG ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $480.94. The stock has a 50 day moving average of $372.75 and a 200-day moving average of $336.02.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

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.