Chronos Wealth Management LLC Sells 85 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Chronos Wealth Management LLC trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,774 shares of the apparel retailer’s stock after selling 85 shares during the quarter. Lululemon Athletica makes up 0.3% of Chronos Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Chronos Wealth Management LLC’s holdings in Lululemon Athletica were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LULU. Paladin Wealth LLC bought a new position in Lululemon Athletica during the third quarter worth $29,000. JFS Wealth Advisors LLC grew its stake in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares in the last quarter. Sound Income Strategies LLC boosted its position in 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. Golden State Wealth Management LLC purchased a new stake in Lululemon Athletica during the fourth quarter worth about $36,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in Lululemon Athletica in the 4th quarter valued at about $38,000. 85.20% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LULU shares. UBS Group raised their price target on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a report on Friday, January 10th. Robert W. Baird upped their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. TD Cowen raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Finally, Truist Financial boosted their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $399.67.

Lululemon Athletica Stock Performance

LULU stock opened at $398.10 on Friday. The stock’s 50 day moving average price is $386.06 and its 200 day moving average price is $315.24. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94. The firm has a market cap of $48.48 billion, a P/E ratio of 28.74, 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $2.53 EPS. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

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.