Rhumbline Advisers Trims Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Rhumbline Advisers lowered its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 207,819 shares of the apparel retailer's stock after selling 6,046 shares during the period. Rhumbline Advisers owned about 0.17% of Lululemon Athletica worth $79,472,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its holdings in Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 65 shares during the period. Asset Planning Inc bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $36,000. Finally, Ameliora Wealth Management Ltd. bought a new position in Lululemon Athletica during the fourth quarter worth $38,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Buying and Selling

In other news, insider Celeste Burgoyne sold 24,870 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company's stock, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen upped their price target on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Needham & Company LLC upgraded Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley raised their target price on Lululemon Athletica from $414.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. Piper Sandler boosted their price target on Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $399.14.

Lululemon Athletica Price Performance

Shares of LULU stock traded down $1.40 on Thursday, hitting $365.82. The stock had a trading volume of 1,462,535 shares, compared to its average volume of 1,620,724. The business has a 50 day moving average of $389.47 and a 200 day moving average of $323.43. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94. The stock has a market cap of $44.55 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business posted $2.53 EPS. The company's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

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.