Kornitzer Capital Management Inc. KS Sells 30,010 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 50.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,121 shares of the apparel retailer’s stock after selling 30,010 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Lululemon Athletica were worth $11,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LULU. Beacon Capital Management LLC lifted its position in shares of Lululemon Athletica by 6.9% in the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock worth $142,000 after purchasing an additional 24 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after buying an additional 26 shares during the period. Mather Group LLC. boosted its position in Lululemon Athletica by 21.1% during the 4th quarter. Mather Group LLC. now owns 178 shares of the apparel retailer’s stock valued at $68,000 after acquiring an additional 31 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of Lululemon Athletica by 53.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 95 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 33 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of Lululemon Athletica by 6.5% in the 4th quarter. Adirondack Trust Co. now owns 651 shares of the apparel retailer’s stock worth $249,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 6.2 %

Shares of NASDAQ:LULU opened at $366.68 on Tuesday. The stock has a market capitalization of $44.65 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.51 and a beta of 1.19. The firm’s 50 day moving average price is $391.37 and its 200-day moving average price is $321.33. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping 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 business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $2.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LULU shares. TD Securities increased their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. UBS Group raised their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Guggenheim boosted their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Barclays raised their price target on Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $399.14.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.