Confluence Investment Management LLC Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Confluence Investment Management LLC lessened its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,842 shares of the apparel retailer’s stock after selling 247 shares during the quarter. Confluence Investment Management LLC’s holdings in Lululemon Athletica were worth $11,412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the 3rd quarter worth $29,000. JFS Wealth Advisors LLC increased its position in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in Lululemon Athletica by 66.7% in the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Lululemon Athletica in the second quarter worth about $36,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 0.8 %

LULU traded down $3.15 during trading on Thursday, hitting $379.26. The company’s stock had a trading volume of 349,871 shares, compared to its average volume of 2,096,786. The firm has a market capitalization of $46.19 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 2.78 and a beta of 1.23. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $503.95. The business’s fifty day simple moving average is $344.28 and its 200 day simple moving average is $298.05.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 14.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Oppenheimer cut their price objective on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Truist Financial upped their price target on shares of Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, December 6th. TD Cowen lifted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on Lululemon Athletica from $338.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Raymond James lifted their price target on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Activity

In other news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

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.