Easterly Investment Partners LLC Sells 3,806 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Easterly Investment Partners LLC reduced its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,641 shares of the apparel retailer’s stock after selling 3,806 shares during the quarter. Easterly Investment Partners LLC’s holdings in Lululemon Athletica were worth $7,893,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. bought a new position in Lululemon Athletica during the fourth quarter worth $370,062,000. Norges Bank acquired a new position in shares of Lululemon Athletica during the fourth quarter valued at about $142,235,000. Maverick Capital Ltd. bought a new position in shares of Lululemon Athletica during the 3rd quarter worth about $93,476,000. The Manufacturers Life Insurance Company grew its stake in shares of Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after buying an additional 305,302 shares during the period. Finally, Southpoint Capital Advisors LP bought a new stake in Lululemon Athletica in the 3rd quarter valued at about $81,405,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Up 0.1 %

Shares of NASDAQ LULU opened at $337.79 on Thursday. The firm’s 50-day moving average price is $366.84 and its 200-day moving average price is $338.65. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $423.32. The company has a market cap of $41.14 billion, a PE ratio of 24.39, a PEG ratio of 2.22 and a beta of 1.21.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LULU shares. Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. Truist Financial lifted their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. TD Cowen increased their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Guggenheim boosted their target price on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley reduced their target price on shares of Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $395.55.

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.