Independence Bank of Kentucky Sells 333 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Independence Bank of Kentucky decreased its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 30.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 773 shares of the apparel retailer’s stock after selling 333 shares during the quarter. Independence Bank of Kentucky’s holdings in Lululemon Athletica were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its position in Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of Lululemon Athletica in the 3rd quarter worth about $93,476,000. The Manufacturers Life Insurance Company raised its position in shares of 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 valued at $143,624,000 after buying an additional 305,302 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $81,405,000. Finally, River Road Asset Management LLC purchased a new position in Lululemon Athletica in the third quarter worth about $79,503,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Down 1.7 %

Shares of LULU stock opened at $414.20 on Friday. The company’s 50 day moving average is $378.74 and its 200 day moving average is $311.76. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.68 and a beta of 1.18. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $2.53 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LULU. Citigroup raised their price objective on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stifel Nicolaus restated a “buy” rating and issued a $438.00 price target (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Truist Financial boosted their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. TD Cowen raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Finally, KeyCorp upped their price target on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $395.67.

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.