Alliancebernstein L.P. Acquires 571,657 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Alliancebernstein L.P. increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 14.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,397,588 shares of the apparel retailer’s stock after purchasing an additional 571,657 shares during the period. Lululemon Athletica makes up 0.6% of Alliancebernstein L.P.’s holdings, making the stock its 29th biggest holding. Alliancebernstein L.P.’s holdings in Lululemon Athletica were worth $1,681,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. TCTC Holdings LLC acquired a new position in Lululemon Athletica during the fourth quarter worth about $26,000. Kestra Investment Management LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Asset Planning Inc bought a new position in Lululemon Athletica in the 4th quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC grew its stake in shares of 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 buying an additional 65 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LULU. TD Cowen increased their price target on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Needham & Company LLC cut their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Raymond James restated a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a report on Friday. Piper Sandler dropped their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a report on Friday. Finally, Robert W. Baird boosted their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ LULU opened at $293.06 on Monday. The firm has a market cap of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. The company’s fifty day simple moving average is $364.63 and its 200 day simple moving average is $340.22. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm earned $5.29 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

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.