Resona Asset Management Co. Ltd. Acquires New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Resona Asset Management Co. Ltd. bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,175 shares of the apparel retailer's stock, valued at approximately $14,621,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. TCTC Holdings LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Lululemon Athletica during the fourth quarter worth approximately $32,000. Sound Income Strategies LLC grew its holdings 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 purchasing an additional 65 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Lululemon Athletica Stock Down 0.7 %

Shares of LULU stock traded down $1.68 during mid-day trading on Friday, reaching $254.94. The company's stock had a trading volume of 499,037 shares, compared to its average volume of 2,232,848. The firm has a market capitalization of $30.76 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The company's 50 day simple moving average is $335.49 and its 200-day simple moving average is $339.26. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Oppenheimer boosted their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Stifel Nicolaus lowered their price objective on Lululemon Athletica from $424.00 to $353.00 and set a "buy" rating for the company in a research report on Thursday. KeyCorp dropped their price target on shares of Lululemon Athletica from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Wells Fargo & Company cut their price objective on Lululemon Athletica from $375.00 to $315.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Finally, Piper Sandler dropped their price target on shares of Lululemon Athletica from $315.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of "Moderate Buy" and an average target price of $371.79.

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.