Investment Partners Asset Management Inc. Buys Shares of 720 Lululemon Athletica Inc. (NASDAQ:LULU)

Investment Partners Asset Management Inc. purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 720 shares of the apparel retailer’s stock, valued at approximately $275,000.

Other hedge funds have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its holdings in Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock valued at $389,000 after acquiring an additional 26 shares during the period. Mather Group LLC. increased its position in shares of Lululemon Athletica by 21.1% during the 4th quarter. Mather Group LLC. now owns 178 shares of the apparel retailer’s stock valued at $68,000 after purchasing an additional 31 shares during the last quarter. Adirondack Trust Co. lifted its stake in shares of Lululemon Athletica by 6.5% in the 4th quarter. Adirondack Trust Co. now owns 651 shares of the apparel retailer’s stock worth $249,000 after purchasing an additional 40 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Lululemon Athletica by 4.6% in the third quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock worth $258,000 after buying an additional 42 shares during the last quarter. Finally, First Pacific Financial grew its position in Lululemon Athletica by 1.4% during the fourth quarter. First Pacific Financial now owns 3,096 shares of the apparel retailer’s stock valued at $1,184,000 after buying an additional 44 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LULU shares. Guggenheim increased their price target on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their target price on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. KeyCorp raised their price objective on Lululemon Athletica from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Truist Financial boosted their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.14.

Insider Buying and Selling

In other Lululemon Athletica 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 $2,399,307.78. This represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $395.16 on Thursday. The firm has a market capitalization of $48.12 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.51 and a beta of 1.19. The business has a 50 day simple moving average of $391.11 and a 200-day simple moving average of $319.20. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

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.