Savoie Capital LLC Invests $2.85 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

Savoie Capital LLC acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,500 shares of the apparel retailer's stock, valued at approximately $2,849,000.

Several other hedge funds have also modified their holdings of the company. Rockline Wealth Management LLC boosted its position in Lululemon Athletica by 1.3% during the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer's stock worth $990,000 after purchasing an additional 43 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock worth $29,000 after buying an additional 43 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of Lululemon Athletica by 66.7% during the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer's stock valued at $34,000 after buying an additional 46 shares in the last quarter. WD Rutherford LLC grew its stake in Lululemon Athletica by 0.8% in the 2nd quarter. WD Rutherford LLC now owns 6,421 shares of the apparel retailer's stock valued at $1,918,000 after acquiring an additional 52 shares during the period. Finally, Beacon Capital Management LLC increased its holdings in Lululemon Athletica by 27.3% in the 2nd quarter. Beacon Capital Management LLC now owns 247 shares of the apparel retailer's stock worth $74,000 after acquiring an additional 53 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

LULU has been the topic of several research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Lululemon Athletica in a report on Friday. Wedbush lowered their target price on Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft increased their price target on Lululemon Athletica from $292.00 to $396.00 and gave the company a "hold" rating in a report on Monday. Oppenheimer reduced their target price on shares of Lululemon Athletica from $445.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 27th. Finally, William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $377.63.

Lululemon Athletica Stock Performance

NASDAQ LULU traded down $6.36 during trading on Tuesday, reaching $398.43. 1,900,480 shares of the company's stock were exchanged, compared to its average volume of 2,128,318. The company has a 50 day moving average price of $308.46 and a two-hundred day moving average price of $288.72. The stock has a market cap of $48.92 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. Research analysts forecast that Lululemon Athletica Inc. will post 14.19 EPS 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.