Coastwise Capital Group LLC Makes New $230,000 Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Coastwise Capital Group LLC purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 601 shares of the apparel retailer’s stock, valued at approximately $230,000.

A number of other hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in Lululemon Athletica by 9.8% during the second quarter. NewEdge Advisors LLC now owns 6,766 shares of the apparel retailer’s stock valued at $2,021,000 after purchasing an additional 604 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Lululemon Athletica by 6.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,306 shares of the apparel retailer’s stock valued at $2,481,000 after buying an additional 468 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Lululemon Athletica by 9.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 908 shares of the apparel retailer’s stock valued at $271,000 after acquiring an additional 75 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Lululemon Athletica by 8.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,492 shares of the apparel retailer’s stock worth $7,315,000 after acquiring an additional 1,918 shares in the last quarter. Finally, Brown Financial Advisors purchased a new stake in Lululemon Athletica in the 2nd quarter worth approximately $260,000. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Piper Sandler raised their price target on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Evercore ISI upped their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Guggenheim lifted their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.67.

Lululemon Athletica Trading Up 2.4 %

Lululemon Athletica stock opened at $421.16 on Friday. The firm has a market capitalization of $51.29 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94. The firm has a 50-day moving average price of $376.79 and a 200-day moving average price of $310.85.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

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.