Meridian Wealth Management LLC Raises Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Meridian Wealth Management LLC lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,956 shares of the apparel retailer’s stock after buying an additional 41 shares during the quarter. Meridian Wealth Management LLC’s holdings in Lululemon Athletica were worth $1,130,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Investment Partners Asset Management Inc. purchased a new position in Lululemon Athletica during the fourth quarter worth approximately $275,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after purchasing an additional 4,564 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Lululemon Athletica by 50.5% during the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after purchasing an additional 34,704 shares in the last quarter. Rakuten Securities Inc. boosted its position in Lululemon Athletica by 876.8% during the third quarter. Rakuten Securities Inc. now owns 2,022 shares of the apparel retailer’s stock worth $549,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in Lululemon Athletica by 138.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after purchasing an additional 1,565 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling

In other news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on LULU shares. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price target on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on 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 increased their price target on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their target price for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $399.14.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $345.29 on Wednesday. The firm has a market capitalization of $42.05 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 2.22 and a beta of 1.19. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $480.94. The stock has a 50 day moving average of $385.29 and a 200 day moving average of $331.52.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data 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. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 earnings per share. Analysts forecast 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.