Raymond James Financial Inc. Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Raymond James Financial Inc. bought a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, HoldingsChannel reports. The fund bought 115,891 shares of the apparel retailer’s stock, valued at approximately $44,318,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Asset Planning Inc bought a new position in shares of Lululemon Athletica during the 4th quarter valued at $33,000. Sound Income Strategies LLC raised its holdings in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica 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 directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LULU shares. UBS Group raised their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, December 6th. KeyCorp raised 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, January 30th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Wells Fargo & Company raised their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group reiterated an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.14.

Lululemon Athletica Stock Down 4.3 %

Shares of LULU stock opened at $319.42 on Wednesday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94. The company has a market capitalization of $38.90 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.22 and a beta of 1.21. The firm has a 50-day moving average price of $380.70 and a 200 day moving average price of $334.18.

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.