Bristlecone Advisors LLC Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Bristlecone Advisors LLC bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,725 shares of the apparel retailer’s stock, valued at approximately $1,042,000.

Other hedge funds have also made changes to their positions in the company. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter worth $29,000. JFS Wealth Advisors LLC lifted its stake in shares of Lululemon Athletica by 127.5% during the 3rd 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 last quarter. Sound Income Strategies LLC lifted its stake in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth $36,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth $38,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $399.71 on Tuesday. The company has a market cap of $48.68 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.19. The stock’s 50 day simple moving average is $387.61 and its 200-day simple moving average is $316.58. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $2.53 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LULU. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Oppenheimer upped their target price on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup upped their target price on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. TD Cowen upped their target price on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Finally, Truist Financial increased their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $399.14.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction on 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. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 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.