Avitas Wealth Management LLC Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Avitas Wealth Management LLC decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,546 shares of the apparel retailer’s stock after selling 38 shares during the period. Avitas Wealth Management LLC’s holdings in Lululemon Athletica were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. E. Ohman J or Asset Management AB boosted its holdings in shares of Lululemon Athletica by 13.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,150 shares of the apparel retailer’s stock worth $1,969,000 after purchasing an additional 600 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Lululemon Athletica by 21.1% during the fourth quarter. Mather Group LLC. now owns 178 shares of the apparel retailer’s stock worth $68,000 after purchasing an additional 31 shares during the last quarter. RBA Wealth Management LLC boosted its holdings in shares of Lululemon Athletica by 4.0% during the fourth quarter. RBA Wealth Management LLC now owns 12,212 shares of the apparel retailer’s stock worth $4,670,000 after purchasing an additional 469 shares during the last quarter. Patron Partners LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $252,000. Finally, Rheos Capital Works Inc. boosted its holdings in shares of Lululemon Athletica by 258.1% during the fourth quarter. Rheos Capital Works Inc. now owns 55,500 shares of the apparel retailer’s stock worth $21,224,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $412.80 on Thursday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94. The firm has a market cap of $50.27 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.70 and a beta of 1.19. The stock’s 50-day simple moving average is $382.35 and its 200-day simple moving average is $313.87.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping 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 return on equity of 42.16% and a net margin of 17.05%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.53 earnings per share. As a group, research analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LULU. Oppenheimer decreased their price objective on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Guggenheim lifted their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Truist Financial lifted their target price on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 target price (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $395.67.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the business’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 $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate 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.