Weiss Asset Management LP Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Weiss Asset Management LP acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,864 shares of the apparel retailer’s stock, valued at approximately $1,863,000.

Several other institutional investors have also recently made changes to their positions in the business. Shepherd Financial Partners LLC acquired a new stake in Lululemon Athletica during the third quarter worth about $953,000. XTX Topco Ltd lifted its stake in shares of Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after purchasing an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after buying an additional 3,721 shares in the last quarter. Rheos Capital Works Inc. increased its holdings in 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 buying an additional 2,500 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised 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 worth $1,844,000 after acquiring an additional 4,564 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company’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 sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Sanford C. Bernstein cut their price objective on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Oppenheimer decreased their price objective on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Barclays boosted their target price on shares of Lululemon Athletica from $261.00 to $378.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial raised their price target on shares of Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. Finally, TD Securities increased their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $399.60 on Friday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a 50 day moving average price of $305.79 and a 200 day moving average price of $288.07. The stock has a market capitalization of $49.06 billion, a P/E ratio of 28.85, a PEG ratio of 2.50 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (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 analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 earnings per share. Research analysts forecast that Lululemon Athletica Inc. will post 13.93 earnings per share for the current fiscal year.

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.