Lake Street Private Wealth LLC Lowers Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Lake Street Private Wealth LLC cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,455 shares of the apparel retailer’s stock after selling 173 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Lululemon Athletica were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its holdings in Lululemon Athletica by 52.3% in the second quarter. Axxcess Wealth Management LLC now owns 1,467 shares of the apparel retailer’s stock valued at $438,000 after purchasing an additional 504 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Lululemon Athletica by 14.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,018 shares of the apparel retailer’s stock valued at $901,000 after buying an additional 389 shares during the period. Bridges Investment Management Inc. purchased a new stake in shares of Lululemon Athletica during the 2nd quarter valued at $200,000. Pacer Advisors Inc. raised its position in shares of Lululemon Athletica by 75.4% in the 2nd quarter. Pacer Advisors Inc. now owns 25,889 shares of the apparel retailer’s stock worth $7,733,000 after buying an additional 11,126 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in Lululemon Athletica by 0.8% in the second quarter. Thrivent Financial for Lutherans now owns 218,602 shares of the apparel retailer’s stock valued at $65,297,000 after acquiring an additional 1,714 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Trading Up 0.7 %

NASDAQ:LULU opened at $373.70 on Friday. The firm has a market capitalization of $45.51 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $491.30. The stock has a 50 day moving average of $362.61 and a 200-day moving average of $304.54.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $2.53 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts predict that Lululemon Athletica Inc. will post 14.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on LULU. JPMorgan Chase & Co. upped their price target on Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Securities raised their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Telsey Advisory Group raised their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $390.33.

Insider Transactions at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders own 0.48% 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.