State of New Jersey Common Pension Fund D Reduces Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

State of New Jersey Common Pension Fund D lowered its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,548 shares of the apparel retailer's stock after selling 1,813 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Lululemon Athletica were worth $15,506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC raised its holdings in shares of Lululemon Athletica by 127.5% during 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 grew its position in shares of 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 in the last quarter. Asset Planning Inc purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $36,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Activity

In other Lululemon Athletica 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 value of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded down $6.85 during mid-day trading on Friday, hitting $358.97. The company had a trading volume of 1,400,060 shares, compared to its average volume of 1,614,250. The company has a market capitalization of $43.72 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94. The business's 50-day simple moving average is $388.35 and its 200 day simple moving average is $324.60.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion for 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 company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.53 earnings per share. On average, analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of analyst reports. Piper Sandler upped their price target on Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. William Blair restated an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Telsey Advisory Group upped their price target on Lululemon Athletica from $430.00 to $445.00 and gave the company an "outperform" rating in a research report on Tuesday, January 14th. TD Cowen upped their price target on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Finally, Morgan Stanley upped their price target on Lululemon Athletica from $414.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Lululemon Athletica has an average rating of "Moderate Buy" and an average price target of $399.14.

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.