Citigroup Inc. Grows Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Citigroup Inc. lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 70.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 180,876 shares of the apparel retailer’s stock after buying an additional 74,738 shares during the period. Citigroup Inc.’s holdings in Lululemon Athletica were worth $69,748,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MetLife Investment Management LLC acquired a new stake in Lululemon Athletica during the 1st quarter valued at $2,696,000. Panagora Asset Management Inc. boosted its stake in shares of Lululemon Athletica by 48.4% during the first quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock valued at $602,000 after acquiring an additional 537 shares during the last quarter. Yousif Capital Management LLC increased its position in 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 in the last quarter. Raymond James Trust N.A. raised its stake in Lululemon Athletica by 6.5% in the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock valued at $457,000 after purchasing an additional 76 shares during the last quarter. Finally, Prudential PLC purchased a new position in Lululemon Athletica in the 1st quarter valued at about $774,000. 91.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of Lululemon Athletica from $450.00 to $520.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Truist Financial boosted their price target on Lululemon Athletica from $555.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Evercore raised their price objective on Lululemon Athletica from $475.00 to $540.00 and gave the stock an “outperform” rating in a report on Tuesday, December 5th. BMO Capital Markets upped their target price on Lululemon Athletica from $376.00 to $408.00 and gave the company a “market perform” rating in a research note on Friday, December 8th. Finally, Citigroup set a $520.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $500.55.

Get Our Latest Stock Report on LULU

Lululemon Athletica Trading Down 0.6 %

NASDAQ LULU opened at $470.24 on Friday. The stock has a market cap of $59.34 billion, a P/E ratio of 59.83, a PEG ratio of 1.64 and a beta of 1.33. The company’s fifty day simple moving average is $485.11 and its 200-day simple moving average is $426.00. Lululemon Athletica Inc. has a 52 week low of $286.58 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last announced its earnings results on Thursday, December 7th. The apparel retailer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.25. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Lululemon Athletica had a return on equity of 44.81% and a net margin of 10.89%. The company’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. On average, research analysts expect that Lululemon Athletica Inc. will post 12.47 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a share buyback plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 1.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Celeste Burgoyne sold 15,400 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $494.64, for a total transaction of $7,617,456.00. Following the transaction, the insider now owns 9,902 shares of the company’s stock, valued at $4,897,925.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicole Neuburger sold 705 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $500.00, for a total transaction of $352,500.00. Following the sale, the insider now owns 3,996 shares in the company, valued at $1,998,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Celeste Burgoyne sold 15,400 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $494.64, for a total value of $7,617,456.00. Following the completion of the transaction, the insider now owns 9,902 shares of the company’s stock, valued at $4,897,925.28. The disclosure for this sale can be found here. Insiders have sold a total of 42,658 shares of company stock valued at $21,183,956 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Lululemon Athletica Profile

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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Want to see what other hedge funds are holding LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lululemon Athletica Inc. (NASDAQ:LULUFree Report).

Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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