Pallas Capital Advisors LLC Increases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Pallas Capital Advisors LLC increased its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 251.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,573 shares of the apparel retailer’s stock after purchasing an additional 1,840 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lululemon Athletica were worth $728,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LULU. TCTC Holdings LLC purchased a new position in Lululemon Athletica during the 4th quarter valued at about $26,000. Anderson Financial Strategies LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $30,000. Kestra Investment Management LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $32,000. Finally, Asset Planning Inc acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU opened at $252.28 on Thursday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The firm has a market cap of $30.43 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The business has a 50 day moving average price of $285.28 and a 200 day moving average price of $336.70.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.60. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LULU has been the topic of a number of recent research reports. Piper Sandler boosted their target price on shares of Lululemon Athletica from $280.00 to $315.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 3rd. Stifel Nicolaus lowered their target price on shares of Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research note on Friday, June 6th. Morgan Stanley reiterated an “equal weight” rating and set a $280.00 target price (down previously from $346.00) on shares of Lululemon Athletica in a research note on Monday. Raymond James reaffirmed a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a report on Friday, March 28th. Finally, CICC Research reiterated a “market perform” rating and issued a $280.49 target price on shares of Lululemon Athletica in a research report on Monday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $340.26.

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.