Manhattan West Asset Management LLC Acquires New Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Manhattan West Asset Management LLC acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 687 shares of the apparel retailer’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. TCTC Holdings LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at $26,000. Kestra Investment Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at approximately $32,000. Asset Planning Inc acquired a new stake in Lululemon Athletica in the fourth quarter valued at $33,000. Finally, Sound Income Strategies LLC grew its stake 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 in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 1.7 %

Shares of LULU stock opened at $261.03 on Friday. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.22 and a beta of 1.31. The firm’s 50 day moving average is $332.40 and its 200-day moving average is $339.26. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.29 EPS. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LULU shares. Stifel Nicolaus reduced their price target on shares of Lululemon Athletica from $424.00 to $353.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup set a $330.00 price objective on shares of Lululemon Athletica and gave the company a “negative” rating in a report on Friday, March 28th. BMO Capital Markets reduced their price objective on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a research report on Friday, March 28th. Oppenheimer increased their price target on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reduced their target price on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average price target of $371.79.

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.