Handelsbanken Fonder AB Trims Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Handelsbanken Fonder AB trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,789 shares of the apparel retailer’s stock after selling 13,223 shares during the quarter. Handelsbanken Fonder AB’s holdings in Lululemon Athletica were worth $23,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its holdings in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $31,000. Milestone Investment Advisors LLC purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $27,000. Bogart Wealth LLC increased its holdings in Lululemon Athletica by 270.0% in the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $40,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $361.79 on Tuesday. The stock’s fifty day moving average is $418.00 and its 200 day moving average is $439.39. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The firm has a market capitalization of $45.59 billion, a PE ratio of 29.63, a PEG ratio of 1.25 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the firm posted $4.40 EPS. Lululemon Athletica’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on LULU shares. KeyCorp dropped their price target on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $430.00 to $415.00 in a research note on Friday, February 9th. Wells Fargo & Company dropped their price target on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a research note on Friday, March 22nd. Truist Financial dropped their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. dropped their price target on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $483.61.

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.