Novem Group Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Novem Group purchased 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 and Exchange Commission. The fund purchased 2,410 shares of the apparel retailer's stock, valued at approximately $922,000.

A number of other institutional investors have also recently made changes to their positions in the stock. TCTC Holdings LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $30,000. Kestra Investment Management LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Finally, Sound Income Strategies LLC raised its stake in Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock worth $33,000 after buying an additional 65 shares during the period. Institutional investors own 85.20% of the company's stock.

Lululemon Athletica Stock Down 3.0%

Shares of LULU stock traded down $9.70 on Friday, reaching $310.76. The company's stock had a trading volume of 1,989,792 shares, compared to its average volume of 2,169,934. The stock's 50 day simple moving average is $286.26 and its 200-day simple moving average is $338.04. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market capitalization of $37.49 billion, a P/E ratio of 22.44, a PEG ratio of 2.22 and a beta of 1.30.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on Lululemon Athletica from $475.00 to $430.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Argus downgraded Lululemon Athletica from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Raymond James reissued a "market perform" rating and issued a $430.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 28th. Barclays lowered their price objective on Lululemon Athletica from $309.00 to $276.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Truist Financial lowered their price objective on Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.72.

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.