Everence Capital Management Inc. Purchases Shares of 3,200 Lululemon Athletica Inc. (NASDAQ:LULU)

Everence Capital Management Inc. purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,200 shares of the apparel retailer’s stock, valued at approximately $1,636,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MetLife Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the 1st quarter worth about $2,696,000. Panagora Asset Management Inc. grew its holdings in shares of Lululemon Athletica by 48.4% during the 1st quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock worth $602,000 after purchasing an additional 537 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Lululemon Athletica by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock worth $1,469,000 after purchasing an additional 100 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock worth $457,000 after purchasing an additional 76 shares during the period. Finally, Prudential PLC purchased a new position in Lululemon Athletica in the 1st quarter worth approximately $774,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Sanford C. Bernstein upped their price target on Lululemon Athletica from $400.00 to $430.00 and gave the stock a “market perform” rating in a report on Thursday, January 4th. BMO Capital Markets upped their target price on Lululemon Athletica from $408.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Barclays cut their target price on Lululemon Athletica from $610.00 to $546.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Truist Financial cut their target price on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 target price (down from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $485.39.

Lululemon Athletica Price Performance

LULU opened at $340.98 on Wednesday. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The business has a 50-day moving average of $427.21 and a 200-day moving average of $439.92. The company has a market capitalization of $42.97 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business earned $4.40 EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities research analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

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.