Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Edgewood Management LLC

Edgewood Management LLC cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,964,184 shares of the apparel retailer's stock after selling 231,935 shares during the quarter. Lululemon Athletica accounts for 3.3% of Edgewood Management LLC's investment portfolio, making the stock its 19th largest position. Edgewood Management LLC owned approximately 2.43% of Lululemon Athletica worth $1,133,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $26,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Asset Planning Inc acquired a new position in Lululemon Athletica during the fourth quarter worth approximately $33,000. Finally, Sound Income Strategies LLC lifted its stake in Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock valued at $33,000 after buying an additional 65 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LULU has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday. Argus lowered Lululemon Athletica from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Bank of America cut 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. UBS Group lowered their price objective on shares of Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating on the stock in a research report on Friday, March 28th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $371.79.

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Lululemon Athletica Stock Up 0.9 %

Shares of NASDAQ:LULU traded up $2.41 during midday trading on Friday, reaching $259.03. The company's stock had a trading volume of 686,658 shares, compared to its average volume of 2,233,600. The business has a 50 day moving average price of $335.49 and a 200 day moving average price of $339.26. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings data 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. 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 in the prior year, the firm posted $5.29 EPS. The company's revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

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.