Daiwa Securities Group Inc. Grows Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Daiwa Securities Group Inc. increased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 21.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,860 shares of the apparel retailer’s stock after purchasing an additional 2,923 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lululemon Athletica were worth $8,620,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LULU. Daymark Wealth Partners LLC raised its position in Lululemon Athletica by 3.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after purchasing an additional 21 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Lululemon Athletica by 1.9% in the fourth quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after acquiring an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Lululemon Athletica by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after acquiring an additional 23 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Lululemon Athletica by 11.1% in the third quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 25 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in shares of Lululemon Athletica by 3.3% in the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock worth $312,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

LULU stock opened at $347.51 on Friday. The company’s 50 day simple moving average is $422.44 and its 200-day simple moving average is $438.62. The firm has a market capitalization of $43.79 billion, a PE ratio of 28.46, a P/E/G ratio of 1.22 and a beta of 1.30. Lululemon Athletica Inc. has a 12 month low of $326.93 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business earned $4.40 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on LULU. Evercore ISI dropped their price target on shares of Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Truist Financial lowered their target price on shares of Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Robert W. Baird upped their price objective on shares of Lululemon Athletica from $520.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Piper Sandler reduced their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, Barclays reduced their target price on shares of Lululemon Athletica from $610.00 to $546.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $485.39.

Insider Buying and Selling

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

Lululemon Athletica 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.