Logan Capital Management Inc. Lowers Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Logan Capital Management Inc. lessened its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,903 shares of the apparel retailer's stock after selling 3,785 shares during the period. Logan Capital Management Inc.'s holdings in Lululemon Athletica were worth $12,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. TCTC Holdings LLC acquired a new stake in Lululemon Athletica in the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC purchased a new stake in Lululemon Athletica during the 4th quarter valued at about $30,000. Kestra Investment Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Lululemon Athletica during the 4th quarter worth approximately $32,000. Finally, Asset Planning Inc purchased a new position in shares of Lululemon Athletica during the fourth quarter worth $33,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU traded up $3.12 during midday trading on Thursday, hitting $318.96. The company had a trading volume of 1,175,843 shares, compared to its average volume of 2,232,093. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The company's 50-day simple moving average is $286.27 and its 200-day simple moving average is $337.40. The firm has a market capitalization of $38.48 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.22 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the firm posted $5.29 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Equities analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LULU has been the topic of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a report on Thursday, April 3rd. Argus lowered Lululemon Athletica from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Cfra Research upgraded Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Telsey Advisory Group decreased their price objective on shares of Lululemon Athletica from $445.00 to $385.00 and set an "outperform" rating on the stock in a report on Friday, March 28th. Finally, Piper Sandler cut their price objective on Lululemon Athletica from $315.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of "Moderate Buy" and an average target price of $368.72.

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.