Gilliland Jeter Wealth Management LLC Invests $1.15 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

Gilliland Jeter Wealth Management LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,240 shares of the apparel retailer’s stock, valued at approximately $1,145,000.

Several other institutional investors and hedge funds also recently modified their holdings of LULU. Valley National Advisers Inc. grew its stake in shares of Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in Lululemon Athletica during the third quarter valued at about $27,000. Bogart Wealth LLC boosted its stake in Lululemon Athletica by 270.0% during the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in Lululemon Athletica during the fourth quarter valued at about $31,000. Finally, Farmers & Merchants Investments Inc. bought a new position in Lululemon Athletica during the fourth quarter valued at about $40,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 1.3 %

Shares of LULU traded up $4.70 during midday trading on Friday, reaching $364.70. 1,234,535 shares of the stock were exchanged, compared to its average volume of 2,023,414. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The firm has a 50 day simple moving average of $410.57 and a 200-day simple moving average of $438.70. The company has a market cap of $45.96 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.29 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business earned $4.40 EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

LULU has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $539.00 target price (down previously from $596.00) on shares of Lululemon Athletica in a research note on Friday, March 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $550.00 target price on shares of Lululemon Athletica in a research note on Friday, March 22nd. Guggenheim decreased 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. Evercore ISI reduced their target price on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, BMO Capital Markets upped their target price on Lululemon Athletica from $408.00 to $420.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $481.96.

Insider Transactions at Lululemon Athletica

In related news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

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.