Proficio Capital Partners LLC Purchases New Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Proficio Capital Partners LLC purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the 4th quarter, Holdings Channel.com reports. The fund purchased 92,543 shares of the apparel retailer’s stock, valued at approximately $35,389,000.

Several other hedge funds have also recently bought and sold shares of the business. Beacon Capital Management LLC grew its position in Lululemon Athletica by 6.9% in the fourth quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after acquiring an additional 24 shares in the last quarter. SeaCrest Wealth Management LLC grew its position 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 valued at $389,000 after acquiring an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Lululemon Athletica by 9.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after acquiring an additional 28 shares in the last quarter. Mather Group LLC. grew its position in Lululemon Athletica by 21.1% in the fourth 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. Finally, Pittenger & Anderson Inc. grew its position in Lululemon Athletica by 53.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 95 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Evercore ISI increased their price objective on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. TD Securities lifted their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp lifted their price target on shares of Lululemon Athletica from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $399.14.

Insider Activity

In related news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were 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 of the company’s stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the insider now directly owns 12,429 shares of the company’s stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU opened at $365.61 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The firm has a fifty day moving average of $386.81 and a 200-day moving average of $329.03.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that Lululemon Athletica Inc. will post 14.36 EPS 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.