Byrne Asset Management LLC Acquires 52 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Byrne Asset Management LLC boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,735 shares of the apparel retailer’s stock after acquiring an additional 52 shares during the quarter. Byrne Asset Management LLC’s holdings in Lululemon Athletica were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in Lululemon Athletica in the 4th quarter worth approximately $36,000. Live Oak Private Wealth LLC lifted its stake in shares of Lululemon Athletica by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 13,710 shares of the apparel retailer’s stock valued at $5,243,000 after acquiring an additional 74 shares during the period. Ameliora Wealth Management Ltd. bought a new position in Lululemon Athletica in the fourth quarter valued at about $38,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Lululemon Athletica by 0.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,930 shares of the apparel retailer’s stock worth $9,533,000 after purchasing an additional 100 shares during the period. Finally, Argus Investors Counsel Inc. bought a new stake in Lululemon Athletica during the 4th quarter worth about $230,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity

In other news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LULU. Telsey Advisory Group raised their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. KeyCorp raised their price objective on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price target on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Two research analysts have 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.67.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $398.10 on Friday. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.51 and a beta of 1.19. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $480.94. The stock’s 50 day moving average price is $386.06 and its two-hundred day moving average price is $315.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current 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.