Red Door Wealth Management LLC Takes Position in lululemon athletica inc. (NASDAQ:LULU)

Red Door Wealth Management LLC bought a new stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,043 shares of the apparel retailer's stock, valued at approximately $578,000.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in lululemon athletica by 95.7% in 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 purchasing an additional 2,371,079 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in lululemon athletica during the 4th quarter valued at approximately $523,520,000. Diamond Hill Capital Management Inc. purchased a new position in shares of lululemon athletica during the 4th quarter valued at approximately $370,062,000. Alliancebernstein L.P. grew 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in lululemon athletica by 37,062.1% in the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after acquiring an additional 561,491 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LULU. TD Securities boosted their price target on shares of lululemon athletica from $370.00 to $373.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. BTIG Research reduced their target price on shares of lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday, June 6th. The Goldman Sachs Group dropped their price target on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial reiterated a "market perform" rating and set a $430.00 price objective on shares of lululemon athletica in a research report on Friday, March 28th. Finally, Piper Sandler increased their target price on lululemon athletica from $280.00 to $315.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, lululemon athletica has a consensus rating of "Moderate Buy" and an average target price of $340.26.

lululemon athletica Stock Up 0.6%

Shares of LULU stock traded up $1.41 on Thursday, reaching $247.71. The stock had a trading volume of 1,646,311 shares, compared to its average volume of 2,317,515. lululemon athletica inc. has a 12 month low of $219.97 and a 12 month high of $423.32. The firm's 50-day moving average is $278.46 and its two-hundred day moving average is $324.17. The firm has a market capitalization of $29.69 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.08 and a beta of 1.17.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate of $2.60. The business had revenue of $2.37 billion for 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 revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.54 earnings per share. On average, sell-side analysts forecast that lululemon athletica inc. will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company's stock.

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.