Federated Hermes Inc. Increases Stock Holdings in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• Federated Hermes Inc. significantly increased its stake in lululemon athletica, boosting its holdings by 914.5% to 5,316 shares, valued at approximately $1.5 million, during Q1.
• Multiple hedge funds adjusted their positions in lululemon, with Narwhal Capital Management increasing its stake by 262.7%, while institutional investors collectively own 85.20% of the company.
• Despite a recent share price increase, Wall Street analysts have varying price targets for lululemon, with a consensus rating of "Moderate Buy" and an average target price of $329.91.

Federated Hermes Inc. grew its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 914.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,316 shares of the apparel retailer's stock after buying an additional 4,792 shares during the quarter. Federated Hermes Inc.'s holdings in lululemon athletica were worth $1,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC acquired a new position in lululemon athletica during the 4th quarter valued at approximately $429,000. Fourth Dimension Wealth LLC acquired a new stake in shares of lululemon athletica in the fourth quarter valued at about $61,000. Envestnet Asset Management Inc. raised its holdings in shares of lululemon athletica by 12.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 128,049 shares of the apparel retailer's stock valued at $48,967,000 after acquiring an additional 14,184 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in lululemon athletica by 28.0% during the 4th quarter. Quadrant Capital Group LLC now owns 594 shares of the apparel retailer's stock worth $227,000 after purchasing an additional 130 shares during the last quarter. Finally, Waterloo Capital L.P. purchased a new stake in lululemon athletica during the 4th quarter valued at about $269,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

lululemon athletica Trading Down 0.9%

Shares of lululemon athletica stock traded down $1.71 during trading hours on Friday, hitting $189.43. 3,163,692 shares of the company were exchanged, compared to its average volume of 2,609,607. The business has a 50-day moving average of $238.95 and a 200-day moving average of $294.91. lululemon athletica inc. has a 1 year low of $186.52 and a 1 year high of $423.32. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.67 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. lululemon athletica's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. As a group, research analysts anticipate that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LULU. Stifel Nicolaus reduced their price objective on shares of lululemon athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Barclays reduced their target price on shares of lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating on the stock in a report on Wednesday. Piper Sandler reduced their price objective on lululemon athletica from $270.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. BTIG Research decreased their target price on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday, June 6th. Finally, KeyCorp decreased their price objective on lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $329.91.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the transaction, the chief executive officer directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

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.