Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by Palmer Knight Co

Palmer Knight Co increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,169 shares of the apparel retailer’s stock after buying an additional 26 shares during the period. Lululemon Athletica accounts for about 3.8% of Palmer Knight Co’s holdings, making the stock its 11th largest holding. Palmer Knight Co’s holdings in Lululemon Athletica were worth $8,478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its position in Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the third quarter worth about $29,000. JFS Wealth Advisors LLC raised its stake 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 purchasing an additional 65 shares during the period. Armstrong Advisory Group Inc. raised its stake 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 purchasing an additional 76 shares during the period. Finally, Asset Dedication LLC raised its stake 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 purchasing an additional 189 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 target price on the stock in a research note on Friday, January 10th. Morgan Stanley lifted their target price on shares of Lululemon Athletica from $414.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. TD Cowen lifted their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Finally, KeyCorp boosted their price target on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Two research 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, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $395.67.

Lululemon Athletica Stock Up 0.4 %

NASDAQ LULU opened at $411.16 on Thursday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $491.30. The stock has a market capitalization of $50.07 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.50 and a beta of 1.18. The firm has a 50 day moving average of $372.62 and a two-hundred day moving average of $309.37.

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

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.