Ipswich Investment Management Co. Inc. Sells 55 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Ipswich Investment Management Co. Inc. reduced its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 730 shares of the apparel retailer’s stock after selling 55 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Lululemon Athletica were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LULU. Valley National Advisers Inc. lifted its holdings in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in Lululemon Athletica during the 3rd quarter worth approximately $27,000. Bogart Wealth LLC lifted its holdings in Lululemon Athletica by 270.0% during the 3rd quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $31,000. Finally, Farmers & Merchants Investments Inc. acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $40,000. 85.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LULU has been the subject of several research reports. Truist Financial dropped their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a report on Monday, March 25th. Morgan Stanley dropped their price target on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. BMO Capital Markets lifted their price target on Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. BNP Paribas cut Lululemon Athletica from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $430.00 to $415.00 in a report on Friday, February 9th. Finally, KeyCorp dropped their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $483.61.

Lululemon Athletica Stock Up 1.4 %

Shares of LULU stock opened at $352.47 on Friday. Lululemon Athletica Inc. has a twelve month low of $326.93 and a twelve month high of $516.39. The company has a market cap of $44.41 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.25 and a beta of 1.30. The business has a fifty day simple moving average of $420.09 and a 200 day simple moving average of $438.90.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the firm earned $4.40 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt bought 700 shares of the stock in a transaction on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

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.