K.J. Harrison & Partners Inc Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

K.J. Harrison & Partners Inc purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,000 shares of the apparel retailer’s stock, valued at approximately $2,978,000.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Lululemon Athletica by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock worth $669,036,000 after buying an additional 44,294 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Lululemon Athletica by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer’s stock worth $190,567,000 after purchasing an additional 19,808 shares during the period. Montrusco Bolton Investments Inc. lifted its holdings in shares of Lululemon Athletica by 43.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer’s stock valued at $166,016,000 after purchasing an additional 185,440 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Lululemon Athletica by 60.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 546,162 shares of the apparel retailer’s stock valued at $148,201,000 after purchasing an additional 205,757 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $365.79 on Thursday. The company has a market cap of $44.55 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.22 and a beta of 1.19. The firm’s fifty day moving average price is $387.32 and its two-hundred day moving average price is $327.92. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 EPS. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LULU shares. Piper Sandler lifted their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. Oppenheimer increased their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Truist Financial boosted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Robert W. Baird increased their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.14.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.