Marietta Wealth Management LLC Trims Stake in lululemon athletica inc. (NASDAQ:LULU)

Marietta Wealth Management LLC reduced its position in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,413 shares of the apparel retailer's stock after selling 4,247 shares during the period. Marietta Wealth Management LLC's holdings in lululemon athletica were worth $4,929,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LULU. Brighton Jones LLC purchased a new position in shares of lululemon athletica during the 4th quarter valued at $429,000. Allworth Financial LP grew its position in shares of lululemon athletica by 113.4% during the 4th quarter. Allworth Financial LP now owns 715 shares of the apparel retailer's stock valued at $274,000 after purchasing an additional 380 shares in the last quarter. Sanctuary Advisors LLC grew its position in lululemon athletica by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 7,899 shares of the apparel retailer's stock worth $3,327,000 after acquiring an additional 268 shares in the last quarter. Truist Financial Corp grew its position in lululemon athletica by 0.6% in the fourth quarter. Truist Financial Corp now owns 20,077 shares of the apparel retailer's stock worth $7,678,000 after acquiring an additional 129 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in lululemon athletica by 7.9% in the fourth quarter. D.A. Davidson & CO. now owns 3,316 shares of the apparel retailer's stock worth $1,268,000 after acquiring an additional 242 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $280.00 price target (down from $346.00) on shares of lululemon athletica in a research note on Monday, June 9th. Stifel Nicolaus lowered their price target on shares of lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Telsey Advisory Group reissued an "outperform" rating and issued a $385.00 price target on shares of lululemon athletica in a research note on Monday, June 2nd. Piper Sandler boosted their price target on shares of lululemon athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Truist Financial lowered their price target on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $340.26.

lululemon athletica Price Performance

LULU stock opened at $227.47 on Friday. lululemon athletica inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The company has a market cap of $27.26 billion, a P/E ratio of 15.41, a PEG ratio of 2.10 and a beta of 1.26. The firm has a 50-day moving average of $281.72 and a 200 day moving average of $332.33.

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

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.

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