Meridian Wealth Management LLC Grows Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Meridian Wealth Management LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,956 shares of the apparel retailer’s stock after purchasing an additional 41 shares during the period. Meridian Wealth Management LLC’s holdings in Lululemon Athletica were worth $1,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Auxano Advisors LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $270,000. Fidelis Capital Partners LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $206,000. LGT Fund Management Co Ltd. boosted its holdings in Lululemon Athletica by 3.3% in the fourth quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer’s stock valued at $356,000 after purchasing an additional 30 shares during the period. SBI Securities Co. Ltd. purchased a new position in Lululemon Athletica in the fourth quarter valued at $3,453,000. Finally, Jones Financial Companies Lllp boosted its holdings in Lululemon Athletica by 62.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,373 shares of the apparel retailer’s stock valued at $1,672,000 after purchasing an additional 1,689 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on LULU shares. JPMorgan Chase & Co. raised their price target on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Barclays raised their price target on Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on Lululemon Athletica from $414.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, Robert W. Baird raised their price target on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $399.14.

Lululemon Athletica Stock Down 0.7 %

Shares of LULU stock opened at $345.29 on Wednesday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94. The stock’s 50-day moving average price is $385.29 and its 200 day moving average price is $331.52. The stock has a market capitalization of $42.05 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19.

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

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica 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 sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.