Parallel Advisors LLC Acquires 5,409 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Parallel Advisors LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 62.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,068 shares of the apparel retailer’s stock after acquiring an additional 5,409 shares during the period. Parallel Advisors LLC’s holdings in Lululemon Athletica were worth $3,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LULU. TCTC Holdings LLC bought a new position in Lululemon Athletica in the 4th quarter worth about $26,000. Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth about $30,000. Kestra Investment Management LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $32,000. Finally, Asset Planning Inc purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $33,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LULU shares. Morgan Stanley lowered their target price on shares of Lululemon Athletica from $373.00 to $346.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America dropped their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group decreased their target price on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research note on Friday, March 28th. Citigroup raised their price target on Lululemon Athletica from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday. Finally, KeyCorp cut their price objective on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.52.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $313.43 on Friday. The firm has a fifty day moving average price of $284.85 and a 200 day moving average price of $337.88. The stock has a market cap of $37.81 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.29 EPS. As a group, equities analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Lululemon Athletica 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.