New York Life Investment Management LLC Has $6.37 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

New York Life Investment Management LLC reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,661 shares of the apparel retailer’s stock after selling 258 shares during the period. New York Life Investment Management LLC’s holdings in Lululemon Athletica were worth $6,371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LULU. JFS Wealth Advisors LLC raised its stake in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $32,000. Sound Income Strategies LLC raised its stake in shares of Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $33,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $365.61 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94. The business has a fifty day moving average price of $386.81 and a 200-day moving average price of $329.03. The firm has a market capitalization of $44.53 billion, a P/E ratio of 26.40, a PEG ratio of 2.22 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $2.53 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction 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 in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction 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 completion of the sale, the insider now 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 currently owned by company insiders.

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a research note on Friday, January 10th. Barclays increased their price objective on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Guggenheim upped their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. Piper Sandler upped their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Telsey Advisory Group upped their target price on Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.14.

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.