Anchor Investment Management LLC Acquires 680 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Anchor Investment Management LLC lifted its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 17.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,582 shares of the apparel retailer’s stock after purchasing an additional 680 shares during the period. Anchor Investment Management LLC’s holdings in Lululemon Athletica were worth $1,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Lululemon Athletica by 22.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,284 shares of the apparel retailer’s stock valued at $8,747,000 after buying an additional 5,463 shares in the last quarter. ORG Partners LLC bought a new position in shares of Lululemon Athletica during the 2nd quarter valued at approximately $155,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after acquiring an additional 3,721 shares during the last quarter. Swedbank AB boosted its position in shares of Lululemon Athletica by 199.5% during the 2nd quarter. Swedbank AB now owns 146,472 shares of the apparel retailer’s stock valued at $43,751,000 after acquiring an additional 97,571 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in shares of Lululemon Athletica by 26.9% during the 2nd quarter. Miracle Mile Advisors LLC now owns 952 shares of the apparel retailer’s stock valued at $284,000 after acquiring an additional 202 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

LULU opened at $389.33 on Friday. The business’s 50-day moving average is $313.85 and its two-hundred day moving average is $290.16. 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 $47.80 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.17 EPS for the current year.

Insider Transactions at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The stock was 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 $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value 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 trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the subject of a number of analyst reports. Evercore ISI raised their price target on Lululemon Athletica from $300.00 to $355.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Wedbush lowered their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Piper Sandler raised their price target on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lowered their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.