L & S Advisors Inc Buys New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

L & S Advisors Inc bought a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, Holdings Channel.com reports. The firm bought 7,066 shares of the apparel retailer’s stock, valued at approximately $1,917,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Value Star Asset Management Hong Kong Ltd lifted its holdings in Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after buying an additional 4,630,466 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares in the last quarter. River Road Asset Management LLC acquired a new position in Lululemon Athletica in the 3rd quarter worth $79,503,000. Marshall Wace LLP lifted its holdings in Lululemon Athletica by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after buying an additional 283,344 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Lululemon Athletica by 151.0% in the 3rd quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock worth $99,744,000 after buying an additional 221,112 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Up 2.2 %

Shares of NASDAQ:LULU opened at $315.09 on Friday. The company has a 50 day moving average of $290.83 and a 200-day moving average of $289.10. The firm has a market cap of $38.69 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.20 and a beta of 1.24. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $2.68 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LULU. Bank of America dropped their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Sanford C. Bernstein dropped their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Truist Financial boosted their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Securities boosted their target price on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $357.13.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.