Coastwise Capital Group LLC Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Coastwise Capital Group LLC bought a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, Holdings Channel reports. The institutional investor bought 601 shares of the apparel retailer’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LULU. International Assets Investment Management LLC grew its position in Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica during the third quarter valued at $93,476,000. The Manufacturers Life Insurance Company grew its holdings in shares of Lululemon Athletica by 136.3% during the third 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 last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $81,405,000. Finally, River Road Asset Management LLC purchased a new position in Lululemon Athletica in the 3rd quarter worth $79,503,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 2.4 %

NASDAQ:LULU opened at $421.16 on Friday. The stock has a 50 day moving average of $376.79 and a two-hundred day moving average of $310.85. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $480.94. The firm has a market cap of $51.29 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.53 earnings per share. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Insider Activity

In related news, insider Celeste Burgoyne sold 24,870 shares of the 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 completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica 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 transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LULU shares. UBS Group increased their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Oppenheimer reduced their price target on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. Raymond James reiterated an “outperform” rating and issued a $430.00 price objective (up previously from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Finally, KeyCorp boosted their target price on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned 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 target price of $395.67.

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.