NewEdge Wealth LLC Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

NewEdge Wealth LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 484 shares of the apparel retailer’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rockline Wealth Management LLC purchased a new stake in Lululemon Athletica during the 4th quarter valued at approximately $1,503,000. Envestnet Asset Management Inc. raised its stake in Lululemon Athletica by 30.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after acquiring an additional 44,141 shares during the last quarter. Blair William & Co. IL raised its stake in Lululemon Athletica by 1.9% during the 3rd quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock valued at $112,081,000 after acquiring an additional 5,403 shares during the last quarter. HB Wealth Management LLC raised its stake in Lululemon Athletica by 10.9% during the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after acquiring an additional 168 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Lululemon Athletica by 42.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after acquiring an additional 805 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $347.51 on Friday. The business’s fifty day moving average price is $422.44 and its two-hundred day moving average price is $438.62. The stock has a market cap of $43.79 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. Lululemon Athletica Inc. has a one year low of $326.93 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. Lululemon Athletica’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.40 EPS. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on LULU shares. Oppenheimer reaffirmed an “outperform” rating and set a $445.00 price objective (down from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Jefferies Financial Group cut their target price on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research note on Thursday, April 4th. Telsey Advisory Group reissued an “outperform” rating and set a $550.00 target price on shares of Lululemon Athletica in a research note on Friday, March 22nd. Guggenheim cut their target price on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Evercore ISI cut their target price on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $485.39.

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.