Pallas Capital Advisors LLC Buys 1,840 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Pallas Capital Advisors LLC increased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 251.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,573 shares of the apparel retailer's stock after buying an additional 1,840 shares during the quarter. Pallas Capital Advisors LLC's holdings in Lululemon Athletica were worth $728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $30,000. Kestra Investment Management LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $32,000. Finally, Asset Planning Inc bought a new position in Lululemon Athletica in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Lululemon Athletica Price Performance

LULU stock traded down $7.92 during mid-day trading on Friday, hitting $239.11. 4,511,966 shares of the stock were exchanged, compared to its average volume of 2,219,618. The business has a fifty day moving average price of $284.75 and a 200 day moving average price of $335.71. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.60. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LULU shares. BMO Capital Markets dropped their target price on Lululemon Athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a report on Friday, June 6th. KeyCorp decreased their price target on Lululemon Athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. Needham & Company LLC decreased their price target on Lululemon Athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Truist Financial decreased their target price on Lululemon Athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, UBS Group decreased their target price on Lululemon Athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $340.26.

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.