Main Street Research LLC Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Main Street Research LLC acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 551 shares of the apparel retailer’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. raised its position in shares of Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Milestone Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica in the third quarter valued at approximately $27,000. Bogart Wealth LLC increased its position in shares of Lululemon Athletica by 270.0% in the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $31,000. Finally, Farmers & Merchants Investments Inc. purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI dropped their price target on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Raymond James boosted their price target on Lululemon Athletica from $495.00 to $520.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 10th. Guggenheim dropped their price target on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Sanford C. Bernstein boosted their price target on Lululemon Athletica from $400.00 to $430.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. Finally, HSBC lowered their price objective on Lululemon Athletica from $500.00 to $405.00 in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $485.39.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Martha A. M. Morfitt purchased 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $194,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Lululemon Athletica Stock Performance

LULU traded up $5.88 during trading on Tuesday, reaching $340.64. 1,432,866 shares of the company’s stock were exchanged, compared to its average volume of 1,750,717. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The firm has a market capitalization of $42.92 billion, a PE ratio of 27.42, a P/E/G ratio of 1.19 and a beta of 1.30. The company’s fifty day moving average price is $429.56 and its 200-day moving average price is $440.25.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.40 EPS. Research analysts forecast that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal 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.