Quantessence Capital LLC Invests $730,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Quantessence Capital LLC purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,910 shares of the apparel retailer's stock, valued at approximately $730,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mawer Investment Management Ltd. bought a new position in Lululemon Athletica during the fourth quarter valued at $523,520,000. Diamond Hill Capital Management Inc. bought a new stake in Lululemon Athletica during the fourth quarter worth approximately $370,062,000. Alliancebernstein L.P. raised its position in Lululemon Athletica by 14.9% during 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 period. Capital World Investors boosted its holdings in shares of Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock worth $827,338,000 after purchasing an additional 556,406 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of Lululemon Athletica by 31.0% during the 4th 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. Institutional investors own 85.20% of the company's stock.

Lululemon Athletica Trading Up 1.1 %

NASDAQ:LULU opened at $253.91 on Tuesday. The company's 50 day moving average is $314.51 and its two-hundred day moving average is $339.12. The company has a market cap of $30.63 billion, a PE ratio of 18.33, a P/E/G ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion for 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 firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.29 EPS. As a group, analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LULU shares. Bank of America cut their price objective on shares of Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Barclays dropped their target price on Lululemon Athletica from $411.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. UBS Group reduced their target price on Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial lowered their target price 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, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $371.72.

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.

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