22,143 Shares in Lululemon Athletica Inc. (NASDAQ:LULU) Acquired by Palmer Knight Co

Palmer Knight Co acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 22,143 shares of the apparel retailer’s stock, valued at approximately $6,009,000. Lululemon Athletica makes up about 2.6% of Palmer Knight Co’s holdings, making the stock its 24th biggest position.

A number of other institutional investors have also added to or reduced their stakes in LULU. Shepherd Financial Partners LLC purchased a new stake in Lululemon Athletica in the 3rd quarter worth $953,000. XTX Topco Ltd increased its holdings in shares of Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after buying an additional 3,721 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in Lululemon Athletica by 9.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after buying an additional 3,077 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Lululemon Athletica by 19.2% in the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after acquiring an additional 2,500 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. KeyCorp lowered their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. dropped their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Citigroup lowered their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Piper Sandler boosted their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Price Performance

Shares of LULU opened at $315.30 on Friday. The company’s fifty day moving average price is $277.50 and its 200-day moving average price is $291.99. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a market capitalization of $38.71 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Insider Activity

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.