Lululemon Athletica Inc. (NASDAQ:LULU) Stake Cut by Grimes & Company Inc.

Grimes & Company Inc. cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 58,720 shares of the apparel retailer’s stock after selling 736 shares during the period. Grimes & Company Inc.’s holdings in Lululemon Athletica were worth $22,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares during the period. Paladin Wealth LLC acquired a new position in Lululemon Athletica during the third quarter worth about $29,000. JFS Wealth Advisors LLC grew its holdings in Lululemon Athletica by 127.5% during 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 period. Armstrong Advisory Group Inc. grew its holdings in Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock worth $39,000 after acquiring an additional 76 shares during the period. Finally, Asset Dedication LLC grew its holdings in Lululemon Athletica by 402.1% during the third quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after acquiring an additional 189 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $400.03 on Friday. The company’s 50-day simple moving average is $368.60 and its two-hundred day simple moving average is $307.47. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $491.30. The company has a market capitalization of $48.72 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.50 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $2.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that Lululemon Athletica Inc. will post 14.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LULU. TD Cowen increased their price target on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Citigroup raised their price target on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Truist Financial lifted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $391.00.

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.