Lululemon Athletica Inc. (NASDAQ:LULU) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS boosted its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,308 shares of the apparel retailer’s stock after purchasing an additional 241 shares during the period. DnB Asset Management AS’s holdings in Lululemon Athletica were worth $7,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $370,062,000. Norges Bank purchased a new position in Lululemon Athletica in the fourth quarter worth $142,235,000. Maverick Capital Ltd. acquired a new stake in Lululemon Athletica in the third quarter valued at $93,476,000. Southpoint Capital Advisors LP purchased a new stake in shares of Lululemon Athletica during the 3rd quarter worth $81,405,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Lululemon Athletica by 248.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer’s stock worth $123,530,000 after purchasing an additional 230,349 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $293.06 on Friday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $423.32. The firm has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. The business’s 50-day simple moving average is $364.63 and its 200-day simple moving average is $339.62.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the company posted $5.29 earnings per share. Lululemon Athletica’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company decreased their target price on Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Guggenheim raised their price target on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

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.