Southpoint Capital Advisors LP Purchases New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Southpoint Capital Advisors LP purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 300,000 shares of the apparel retailer’s stock, valued at approximately $81,405,000. Lululemon Athletica accounts for about 1.9% of Southpoint Capital Advisors LP’s holdings, making the stock its 23rd largest holding. Southpoint Capital Advisors LP owned approximately 0.24% of Lululemon Athletica at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB acquired a new stake in Lululemon Athletica in the first quarter valued at approximately $19,103,000. Cetera Investment Advisers grew its position in Lululemon Athletica by 101.3% in the first quarter. Cetera Investment Advisers now owns 30,367 shares of the apparel retailer’s stock valued at $11,863,000 after acquiring an additional 15,279 shares in the last quarter. Cetera Advisors LLC grew its position in Lululemon Athletica by 148.6% in the first quarter. Cetera Advisors LLC now owns 8,217 shares of the apparel retailer’s stock valued at $3,210,000 after acquiring an additional 4,912 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Lululemon Athletica by 125.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 22,574 shares of the apparel retailer’s stock valued at $8,818,000 after acquiring an additional 12,574 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Lululemon Athletica by 52.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 48,680 shares of the apparel retailer’s stock valued at $18,820,000 after acquiring an additional 16,755 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on LULU shares. Wedbush decreased their price target on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Wells Fargo & Company decreased their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Truist Financial raised their price target on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Securities raised their price target on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.03.

Lululemon Athletica Price Performance

Shares of LULU opened at $320.66 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a 50-day moving average of $297.19 and a two-hundred day moving average of $287.88. The stock has a market cap of $39.37 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.32 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

Lululemon Athletica 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.