KLP Kapitalforvaltning AS Acquires New Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

KLP Kapitalforvaltning AS purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 38,800 shares of the apparel retailer’s stock, valued at approximately $14,838,000.

Other institutional investors have also recently bought and sold shares of the company. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $275,000. Rockefeller Capital Management L.P. lifted its stake in Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after buying an additional 34,704 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in Lululemon Athletica by 138.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after buying an additional 1,565 shares in the last quarter. Montag A & Associates Inc. lifted its stake in Lululemon Athletica by 495.1% in the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after buying an additional 3,540 shares in the last quarter. Finally, Northeast Investment Management bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $276,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU stock opened at $322.62 on Monday. The company’s 50-day simple moving average is $369.92 and its 200 day simple moving average is $337.50. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $423.32. The company has a market capitalization of $39.29 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LULU shares. Morgan Stanley cut their price target on shares of Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. TD Securities boosted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective on the stock in a research report on Friday, January 10th. Stifel Nicolaus reissued a “buy” rating and issued a $438.00 price objective (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Finally, Oppenheimer boosted their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.10.

Lululemon Athletica Company 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.