IHT Wealth Management LLC Increases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

IHT Wealth Management LLC raised its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 15.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,045 shares of the apparel retailer’s stock after acquiring an additional 669 shares during the quarter. IHT Wealth Management LLC’s holdings in Lululemon Athletica were worth $1,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Value Star Asset Management Hong Kong Ltd increased its holdings in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after purchasing an additional 4,630,466 shares during the period. American Century Companies Inc. increased its stake in shares of Lululemon Athletica by 4.9% during the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock valued at $528,429,000 after buying an additional 82,731 shares during the period. Legal & General Group Plc raised its holdings in shares of Lululemon Athletica by 3.7% during the second quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after acquiring an additional 37,239 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after acquiring an additional 894,531 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Lululemon Athletica by 38.2% in the second quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock worth $220,423,000 after acquiring an additional 203,882 shares during the period. 85.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Trading Up 0.7 %

Shares of LULU opened at $344.81 on Friday. The firm has a fifty day simple moving average of $303.40 and a two-hundred day simple moving average of $287.81. The firm has a market cap of $42.33 billion, a PE ratio of 26.65, a P/E/G ratio of 2.49 and a beta of 1.23. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 earnings per share. As a group, research analysts forecast that Lululemon Athletica Inc. will post 13.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on LULU shares. Piper Sandler upped their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Citigroup reduced their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Bank of America dropped their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Wedbush decreased their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Two 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 data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $353.74.

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.