Grimes & Company Inc. Sells 736 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Grimes & Company Inc. reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 58,720 shares of the apparel retailer’s stock after selling 736 shares during the period. Grimes & Company Inc.’s holdings in Lululemon Athletica were worth $22,455,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica in the third quarter valued at about $953,000. Rheos Capital Works Inc. increased its position in shares of Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after acquiring an additional 2,500 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Lululemon Athletica by 198.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after acquiring an additional 4,564 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after acquiring an additional 34,704 shares during the period. Finally, Touchstone Capital Inc. purchased a new position in shares of Lululemon Athletica in the third quarter valued at about $4,084,000. 85.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LULU. 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. Raymond James reiterated an “outperform” rating and set a $430.00 price target (up previously from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. Robert W. Baird boosted their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price target on shares of Lululemon Athletica from $414.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Finally, Barclays boosted their price target on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $391.00.

Insider Activity

In related news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU opened at $400.03 on Friday. The stock has a market capitalization of $48.72 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.50 and a beta of 1.18. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $491.30. The company’s fifty day moving average is $368.60 and its two-hundred day moving average is $307.47.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate 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%. The business’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 firm earned $2.53 EPS. Sell-side analysts predict that Lululemon Athletica Inc. will post 14.34 EPS for the current year.

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.