Wealthedge Investment Advisors LLC Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Wealthedge Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,286 shares of the apparel retailer’s stock, valued at approximately $1,257,000.

A number of other large investors have also recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD boosted its holdings in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after purchasing an additional 571,657 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lululemon Athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares during the last quarter. Capital World Investors boosted its holdings in Lululemon Athletica by 34.6% in the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after purchasing an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Lululemon Athletica by 31.0% in the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after purchasing an additional 421,890 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

LULU opened at $321.20 on Wednesday. The company’s 50 day simple moving average is $285.82 and its two-hundred day simple moving average is $338.10. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $423.32. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30.

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

Wall Street Analyst Weigh In

Several research firms have commented on LULU. Raymond James reaffirmed a “market perform” rating and issued a $430.00 price target on shares of Lululemon Athletica in a report on Friday, March 28th. Cfra Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Piper Sandler dropped their target price on Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. Finally, Barclays dropped their target price on Lululemon Athletica from $309.00 to $276.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.