Financial Advocates Investment Management Reduces Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Financial Advocates Investment Management lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,880 shares of the apparel retailer’s stock after selling 80 shares during the period. Financial Advocates Investment Management’s holdings in Lululemon Athletica were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its position in Lululemon Athletica by 9.7% during the fourth quarter. Bleakley Financial Group LLC now owns 1,016 shares of the apparel retailer’s stock worth $389,000 after purchasing an additional 90 shares during the period. YANKCOM Partnership purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at approximately $98,000. Robertson Stephens Wealth Management LLC bought a new position in Lululemon Athletica in the 4th quarter worth approximately $250,000. Absher Wealth Management LLC grew its stake in Lululemon Athletica by 12.2% in the 4th quarter. Absher Wealth Management LLC now owns 7,471 shares of the apparel retailer’s stock valued at $2,857,000 after buying an additional 810 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its holdings in Lululemon Athletica by 8.8% during the 4th quarter. Confluence Wealth Services Inc. now owns 845 shares of the apparel retailer’s stock valued at $328,000 after acquiring an additional 68 shares during the period. Institutional investors own 85.20% of the company’s stock.

Insider Transactions at Lululemon Athletica

In other news, insider Celeste Burgoyne sold 24,870 shares of the business’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 sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird lifted their target price on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Telsey Advisory Group increased their price target on shares of Lululemon Athletica from $430.00 to $445.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a research report on Friday, January 10th. Finally, Piper Sandler upped their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.67.

Lululemon Athletica Price Performance

LULU opened at $398.10 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94. The business has a 50 day simple moving average of $386.06 and a two-hundred day simple moving average of $315.24. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.70 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter 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, sell-side analysts expect that Lululemon Athletica Inc. will post 14.36 EPS 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.