Covestor Ltd Acquires 48 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Covestor Ltd grew its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 881 shares of the apparel retailer’s stock after acquiring an additional 48 shares during the period. Covestor Ltd’s holdings in Lululemon Athletica were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LULU. Investment Partners Asset Management Inc. purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $275,000. Nutshell Asset Management Ltd purchased a new position in Lululemon Athletica in the 4th quarter valued at about $956,000. Lebenthal Global Advisors LLC lifted its stake in Lululemon Athletica by 138.1% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after purchasing an additional 1,565 shares in the last quarter. Montag A & Associates Inc. increased its holdings in shares of Lululemon Athletica by 495.1% during the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after buying an additional 3,540 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Lululemon Athletica in the fourth quarter worth $17,775,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $17.00 during trading on Thursday, hitting $256.84. 852,615 shares of the company’s stock were exchanged, compared to its average volume of 2,227,483. The company has a market cap of $30.98 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 2.22 and a beta of 1.31. The business’s 50-day simple moving average is $338.57 and its 200 day simple moving average is $339.30. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the business posted $5.29 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on LULU. Evercore ISI boosted their price target on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. BTIG Research lowered their target price on shares of Lululemon Athletica from $470.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. KeyCorp reduced their price target on shares of Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Needham & Company LLC reduced their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Finally, Piper Sandler cut their price target on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.45.

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.