Manhattan West Asset Management LLC Purchases New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

Manhattan West Asset Management LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, Holdings Channel reports. The fund bought 687 shares of the apparel retailer’s stock, valued at approximately $263,000.

Other institutional investors also recently modified their holdings of the company. Mawer Investment Management Ltd. bought a new stake in Lululemon Athletica in the 4th quarter valued at about $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in Lululemon Athletica during the fourth quarter worth approximately $370,062,000. Alliancebernstein L.P. increased its stake in Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after acquiring an additional 571,657 shares during the period. Schroder Investment Management Group raised its holdings in Lululemon Athletica by 31.0% in the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after acquiring an additional 421,890 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at $142,235,000. Institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LULU. BMO Capital Markets cut their price objective on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a research report on Friday, March 28th. Truist Financial reduced their price target on shares of Lululemon Athletica from $380.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird lowered their price objective on shares of Lululemon Athletica from $450.00 to $370.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Cfra Research raised Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Finally, Telsey Advisory Group lowered their price target on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $371.79.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $261.03 on Friday. The stock has a market capitalization of $31.49 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $423.32. The stock has a 50 day moving average price of $332.40 and a two-hundred day moving average price of $339.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.29 EPS. Research analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Lululemon Athletica Company 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.