Optimize Financial Inc Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Optimize Financial Inc acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,998 shares of the apparel retailer's stock, valued at approximately $764,000.

A number of other institutional investors have also bought and sold shares of LULU. Mawer Investment Management Ltd. acquired a new position in shares of Lululemon Athletica during the 4th quarter valued at about $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $370,062,000. Alliancebernstein L.P. raised its position in shares of Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock valued at $1,681,682,000 after buying an additional 571,657 shares during the period. Schroder Investment Management Group grew its position 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 worth $681,163,000 after acquiring an additional 421,890 shares during the period. Finally, Norges Bank acquired a new stake in Lululemon Athletica during the fourth quarter worth $142,235,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 1.6 %

Shares of Lululemon Athletica stock traded down $4.12 on Tuesday, hitting $255.64. The stock had a trading volume of 1,571,319 shares, compared to its average volume of 2,233,111. The company's 50 day moving average price is $326.21 and its 200 day moving average price is $339.03. The stock has a market cap of $30.84 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $423.32.

Remove Ads

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion during 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 company's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.29 earnings per share. Analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LULU has been the topic of several research analyst reports. Truist Financial reduced their price objective on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. Bank of America dropped their price objective 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. William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $391.00 to $389.00 and set an "overweight" rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $371.72.

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.