Narwhal Capital Management Buys 2,829 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Narwhal Capital Management lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 416.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,509 shares of the apparel retailer’s stock after acquiring an additional 2,829 shares during the quarter. Narwhal Capital Management’s holdings in Lululemon Athletica were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Lululemon Athletica by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock valued at $3,847,103,000 after buying an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd lifted its holdings in Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the period. American Century Companies Inc. boosted its position in Lululemon Athletica by 4.9% in the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Lululemon Athletica by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after purchasing an additional 37,239 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Lululemon Athletica by 38.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock valued at $220,423,000 after purchasing an additional 203,882 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 0.4 %

Lululemon Athletica stock opened at $298.88 on Wednesday. The firm has a market capitalization of $37.36 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a 50-day moving average price of $267.34 and a 200-day moving average price of $294.70.

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

Analyst Upgrades and Downgrades

LULU has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research note on Thursday, July 25th. TD Cowen lowered their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Wedbush reduced their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.55.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 $1,670,918.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Company 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.