Norges Bank Purchases Shares of 371,944 Lululemon Athletica Inc. (NASDAQ:LULU)

Norges Bank purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 371,944 shares of the apparel retailer's stock, valued at approximately $142,235,000. Norges Bank owned approximately 0.31% of Lululemon Athletica as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LULU. LM Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $205,000. NEOS Investment Management LLC boosted its holdings in Lululemon Athletica by 18.7% during the 4th quarter. NEOS Investment Management LLC now owns 12,734 shares of the apparel retailer's stock worth $4,870,000 after acquiring an additional 2,008 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Lululemon Athletica by 5.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 9,296 shares of the apparel retailer's stock worth $3,555,000 after acquiring an additional 493 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $1,330,000. Finally, Ausdal Financial Partners Inc. bought a new position in shares of Lululemon Athletica during the fourth quarter valued at about $297,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Lululemon Athletica Trading Up 3.1 %

Shares of Lululemon Athletica stock traded up $8.05 during trading on Friday, hitting $263.70. The stock had a trading volume of 8,366,117 shares, compared to its average volume of 2,200,670. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32. The business's 50-day moving average is $353.59 and its 200 day moving average is $339.97. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31.

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

Wall Street Analyst Weigh In

Several research firms have commented on LULU. Piper Sandler decreased their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. BMO Capital Markets decreased their price target on Lululemon Athletica from $313.00 to $302.00 and set a "market perform" rating for the company in a research report on Friday, March 28th. Robert W. Baird cut their price objective on Lululemon Athletica from $450.00 to $370.00 and set an "outperform" rating on the stock in a research report on Friday. Barclays reduced their price objective on Lululemon Athletica from $411.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Finally, Truist Financial lowered their target price on Lululemon Athletica from $460.00 to $380.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $378.31.

About Lululemon Athletica

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.