Perpetual Ltd Reduces Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Perpetual Ltd reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 41.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,422 shares of the apparel retailer’s stock after selling 1,688 shares during the period. Perpetual Ltd’s holdings in Lululemon Athletica were worth $926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $29,000. JFS Wealth Advisors LLC grew its stake in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 76 shares in the last quarter. Asset Dedication LLC raised its position in shares of Lululemon Athletica by 402.1% in the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after purchasing an additional 189 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in Lululemon Athletica in the 4th quarter worth about $95,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Up 2.7 %

NASDAQ:LULU opened at $382.82 on Thursday. The stock has a market cap of $46.62 billion, a PE ratio of 27.64, a P/E/G ratio of 2.44 and a beta of 1.18. The business’s 50-day simple moving average is $364.75 and its two-hundred day simple moving average is $305.63. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 EPS. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research note on Monday, December 2nd. Needham & Company LLC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $390.33.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the business’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 transaction, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. 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.