Forum Financial Management LP Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Forum Financial Management LP purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 717 shares of the apparel retailer’s stock, valued at approximately $274,000.

Several other hedge funds have also recently added to or reduced their stakes in LULU. Brighton Jones LLC bought a new stake in Lululemon Athletica during the fourth quarter worth about $429,000. Blue Trust Inc. lifted its stake in Lululemon Athletica by 10.3% during the fourth quarter. Blue Trust Inc. now owns 759 shares of the apparel retailer’s stock worth $290,000 after purchasing an additional 71 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Lululemon Athletica during the fourth quarter worth about $2,360,000. KBC Group NV lifted its stake in Lululemon Athletica by 44.9% during the fourth quarter. KBC Group NV now owns 49,873 shares of the apparel retailer’s stock worth $19,072,000 after purchasing an additional 15,443 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in Lululemon Athletica by 138.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 3.4%

Lululemon Athletica stock opened at $321.20 on Wednesday. The company has a market capitalization of $38.75 billion, a P/E ratio of 23.19, a PEG ratio of 2.22 and a beta of 1.30. The stock’s 50 day moving average is $285.82 and its 200 day moving average is $338.10. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LULU. Bank of America dropped their price target on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Telsey Advisory Group lowered their target price on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Argus lowered Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Raymond James reissued a “market perform” rating and issued a $430.00 target price on shares of Lululemon Athletica in a research note on Friday, March 28th. Finally, Piper Sandler lowered their target price on Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $368.72.

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.