New Age Alpha Advisors LLC Grows Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in lululemon athletica, purchasing an additional 7,508 shares, bringing its total holdings to 7,541 shares valued at approximately $2.13 million.
• Institutional investors now own 85.20% of lululemon athletica's stock, indicating strong confidence among major market players.
• Despite a recent drop in target prices from various analysts, lululemon reported $2.37 billion in revenue for the last quarter, reflecting a 7.3% increase compared to the same period last year.

New Age Alpha Advisors LLC increased its position in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 22,751.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,541 shares of the apparel retailer's stock after acquiring an additional 7,508 shares during the period. New Age Alpha Advisors LLC's holdings in lululemon athletica were worth $2,135,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of lululemon athletica by 95.7% during the fourth 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 buying an additional 2,371,079 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of lululemon athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after buying an additional 561,491 shares in the last quarter. Capital World Investors grew its holdings in shares of 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 buying an additional 556,406 shares in the last quarter. Ameriprise Financial Inc. boosted its position in lululemon athletica by 128.2% during the fourth quarter. Ameriprise Financial Inc. now owns 706,300 shares of the apparel retailer's stock valued at $270,223,000 after purchasing an additional 396,732 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in lululemon athletica by 9,067.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 298,752 shares of the apparel retailer's stock valued at $114,246,000 after purchasing an additional 295,493 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

lululemon athletica Stock Performance

Shares of NASDAQ:LULU traded down $1.71 during mid-day trading on Friday, reaching $189.43. 3,184,383 shares of the company's stock were exchanged, compared to its average volume of 3,128,553. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.63 and a beta of 1.16. The business's fifty day moving average price is $236.47 and its 200-day moving average price is $293.65. lululemon athletica inc. has a twelve month low of $186.52 and a twelve month high of $423.32.

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

Analyst Ratings Changes

Several brokerages recently issued reports on LULU. BTIG Research lowered their price target on lululemon athletica from $420.00 to $405.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Citigroup lowered their price target on lululemon athletica from $325.00 to $270.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. JPMorgan Chase & Co. downgraded lululemon athletica from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $303.00 to $224.00 in a report on Tuesday, July 22nd. Piper Sandler decreased their price objective on lululemon athletica from $270.00 to $200.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Finally, Jefferies Financial Group decreased their price objective on lululemon athletica from $220.00 to $200.00 and set an "underperform" rating on the stock in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently 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 business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the sale, the chief executive officer directly owned 110,564 shares of the company's stock, valued at $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company's stock.

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.