Investment Partners Asset Management Inc. Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Investment Partners Asset Management Inc. acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, HoldingsChannel reports. The fund acquired 720 shares of the apparel retailer’s stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LULU. CWM LLC boosted its stake in shares of Lululemon Athletica by 13.7% during the third quarter. CWM LLC now owns 3,294 shares of the apparel retailer’s stock valued at $894,000 after purchasing an additional 398 shares in the last quarter. Swedbank AB lifted its holdings in Lululemon Athletica by 151.0% during the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock worth $99,744,000 after buying an additional 221,112 shares during the period. Asset Dedication LLC boosted its position in Lululemon Athletica by 402.1% during the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock valued at $64,000 after acquiring an additional 189 shares in the last quarter. Jamison Private Wealth Management Inc. increased its holdings in shares of Lululemon Athletica by 22.1% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 3,074 shares of the apparel retailer’s stock valued at $834,000 after acquiring an additional 557 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of Lululemon Athletica by 14.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 49,147 shares of the apparel retailer’s stock worth $13,336,000 after acquiring an additional 6,105 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Trading Down 0.6 %

LULU stock opened at $395.16 on Thursday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94. The business’s 50-day moving average is $391.11 and its 200 day moving average is $319.20. The stock has a market cap of $48.12 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.51 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $2.53 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Monday, December 2nd. Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. TD Cowen increased their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their price target on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, Robert W. Baird upped their price target on shares of 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 assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $399.14.

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.