Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 75.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 988 shares of the apparel retailer’s stock after purchasing an additional 426 shares during the period. Axxcess Wealth Management LLC’s holdings in Lululemon Athletica were worth $505,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Valley National Advisers Inc. grew its position in shares of Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in Lululemon Athletica in the fourth quarter worth $31,000. Milestone Investment Advisors LLC bought a new stake in Lululemon Athletica during the third quarter valued at $27,000. Bogart Wealth LLC raised its holdings in shares of Lululemon Athletica by 270.0% during the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 54 shares during the period. Finally, Farmers & Merchants Investments Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter worth about $40,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 22nd. 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. Citigroup cut their price target on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Piper Sandler lowered their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company cut their target price on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $476.57.

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction on Tuesday, March 26th. The shares were purchased at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $349.85 on Wednesday. The stock has a market capitalization of $44.08 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.25 and a beta of 1.30. The business’s fifty day moving average is $396.53 and its two-hundred day moving average is $437.09. Lululemon Athletica Inc. has a 1 year low of $326.93 and a 1 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 the consensus estimate of $5.00 by $0.29. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. Lululemon Athletica’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.40 earnings per share. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

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.