North Growth Management Ltd. Takes Position in Lululemon Athletica Inc. (NASDAQ:LULU)

North Growth Management Ltd. acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,000 shares of the apparel retailer’s stock, valued at approximately $271,000.

A number of other hedge funds also recently bought and sold shares of LULU. WealthPlan Investment Management LLC raised its holdings in shares of Lululemon Athletica by 55.6% during the 3rd quarter. WealthPlan Investment Management LLC now owns 5,089 shares of the apparel retailer’s stock worth $1,381,000 after acquiring an additional 1,818 shares during the period. GSA Capital Partners LLP acquired a new position in Lululemon Athletica in the 3rd quarter valued at about $1,388,000. Apollon Wealth Management LLC grew its stake in shares of Lululemon Athletica by 29.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,561 shares of the apparel retailer’s stock valued at $695,000 after buying an additional 577 shares during the period. Vantage Investment Partners LLC increased its holdings in shares of Lululemon Athletica by 34.2% during the 3rd quarter. Vantage Investment Partners LLC now owns 129,833 shares of the apparel retailer’s stock worth $35,230,000 after buying an additional 33,066 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV acquired a new position in Lululemon Athletica in the third quarter valued at approximately $1,433,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $318.46 on Tuesday. The firm’s fifty day moving average price is $279.60 and its 200 day moving average price is $290.76. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The company has a market capitalization of $39.10 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler lifted their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Bank of America lowered their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Stifel Nicolaus reduced their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. KeyCorp lowered their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Barclays cut their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

About Lululemon Athletica

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.