Patron Partners LLC Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Patron Partners LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 660 shares of the apparel retailer’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LULU. Shepherd Financial Partners LLC acquired a new position in Lululemon Athletica during the 3rd quarter valued at approximately $953,000. Rheos Capital Works Inc. grew its holdings in shares of Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after buying an additional 2,500 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Lululemon Athletica by 198.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after buying an additional 4,564 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Lululemon Athletica by 50.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after buying an additional 34,704 shares during the last quarter. Finally, Touchstone Capital Inc. bought a new stake in Lululemon Athletica during the 3rd quarter valued at $4,084,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LULU shares. Robert W. Baird lifted their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Telsey Advisory Group increased their price objective on Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Finally, Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 target price for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.67.

Insider Transactions at Lululemon Athletica

In other news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the transaction, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $410.29 on Tuesday. The stock has a market capitalization of $49.97 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.70 and a beta of 1.19. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94. The company’s 50-day moving average is $378.74 and its 200 day moving average is $312.03.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $2.53 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

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.