Nippon Life Global Investors Americas Inc. Makes New $902,000 Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Nippon Life Global Investors Americas Inc. acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 2,360 shares of the apparel retailer’s stock, valued at approximately $902,000.

A number of other hedge funds also recently made changes to their positions in the stock. TCTC Holdings LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Sound Income Strategies LLC boosted its holdings in Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after buying an additional 65 shares during the period. Finally, Asset Planning Inc purchased a new stake in Lululemon Athletica in the 4th quarter worth $33,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Trading Up 1.1 %

Shares of LULU opened at $253.91 on Tuesday. The firm has a market capitalization of $30.63 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32. The firm has a fifty day moving average price of $314.51 and a 200-day moving average price of $339.12.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.29 EPS. Analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LULU. Piper Sandler dropped their price objective on Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Needham & Company LLC dropped their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Raymond James reaffirmed a “market perform” rating and set a $430.00 target price on shares of Lululemon Athletica in a research note on Friday, March 28th. Finally, Oppenheimer increased their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.72.

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.