Anchor Investment Management LLC Buys 1,109 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Anchor Investment Management LLC boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 24.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,691 shares of the apparel retailer’s stock after acquiring an additional 1,109 shares during the period. Anchor Investment Management LLC’s holdings in Lululemon Athletica were worth $2,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its position in shares of Lululemon Athletica by 900.0% during the 3rd quarter. Westside Investment Management Inc. now owns 300 shares of the apparel retailer’s stock worth $81,000 after acquiring an additional 270 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Lululemon Athletica by 964.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,058 shares of the apparel retailer’s stock valued at $3,815,000 after purchasing an additional 12,737 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica in the 3rd quarter valued at $15,038,000. Sfmg LLC acquired a new position in shares of Lululemon Athletica during the 3rd quarter worth $2,984,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Lululemon Athletica during the 3rd quarter worth $249,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Trading Down 1.6 %

NASDAQ:LULU opened at $255.64 on Wednesday. The firm has a fifty day simple moving average of $326.21 and a two-hundred day simple moving average of $339.03. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market capitalization of $30.84 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $5.29 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer lifted their target price on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Piper Sandler dropped their price objective on shares of Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. BMO Capital Markets cut their target price on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a research report on Friday, March 28th. Argus cut Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Telsey Advisory Group reduced their price objective on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $371.72.

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.