Connecticut Wealth Management LLC Sells 32 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Connecticut Wealth Management LLC trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,038 shares of the apparel retailer’s stock after selling 32 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Lululemon Athletica were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Valley National Advisers Inc. raised its holdings in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in Lululemon Athletica during the 3rd quarter valued at about $27,000. Bogart Wealth LLC lifted its stake in Lululemon Athletica by 270.0% during the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Morton Brown Family Wealth LLC bought a new position in Lululemon Athletica during the 4th quarter valued at about $31,000. Finally, Farmers & Merchants Investments Inc. bought a new position in Lululemon Athletica during the 4th quarter valued at about $40,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU traded down $4.11 during trading hours on Monday, hitting $351.04. 731,819 shares of the stock were exchanged, compared to its average volume of 1,743,419. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The company has a market cap of $44.23 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. The stock’s 50-day moving average price is $401.25 and its two-hundred day moving average price is $437.74.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping the consensus estimate of $5.00 by $0.29. The firm had revenue of $3.21 billion during 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%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.40 earnings per share. On average, research analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. Guggenheim reduced their target price on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Needham & Company LLC lowered their price target on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. TD Cowen decreased their target price on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Morgan Stanley decreased their price objective on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Finally, HSBC decreased their price objective on Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $476.57.

Insider Buying and Selling at Lululemon Athletica

In related news, Director Martha A. M. Morfitt bought 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company 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.