Merit Financial Group LLC Has $1.07 Million Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Merit Financial Group LLC boosted its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 124.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,786 shares of the apparel retailer's stock after buying an additional 2,099 shares during the quarter. Merit Financial Group LLC's holdings in Lululemon Athletica were worth $1,072,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock worth $1,681,682,000 after buying an additional 571,657 shares during the period. Geode Capital Management LLC boosted its position in Lululemon Athletica by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock valued at $947,682,000 after purchasing an additional 10,461 shares during the last quarter. Capital World Investors boosted its position in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after purchasing an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Lululemon Athletica by 31.0% during the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer's stock valued at $681,163,000 after purchasing an additional 421,890 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI upped their price objective on Lululemon Athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Argus lowered Lululemon Athletica from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Piper Sandler raised their price objective on Lululemon Athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Stifel Nicolaus decreased their price target on Lululemon Athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Morgan Stanley decreased their price target on Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lululemon Athletica has a consensus rating of "Moderate Buy" and an average price target of $344.96.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $265.27 on Friday. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 2.22 and a beta of 1.26. The business's 50-day moving average is $285.93 and its 200-day moving average is $338.08. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate 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 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 EPS. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current 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.

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