First Horizon Advisors Inc. Sells 33 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

First Horizon Advisors Inc. cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,012 shares of the apparel retailer’s stock after selling 33 shares during the quarter. First Horizon Advisors Inc.’s holdings in Lululemon Athletica were worth $517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. Rockline Wealth Management LLC bought a new stake in Lululemon Athletica during the 4th quarter valued at $1,503,000. Envestnet Asset Management Inc. lifted its stake in Lululemon Athletica by 30.3% in the third quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock worth $73,248,000 after acquiring an additional 44,141 shares during the period. Blair William & Co. IL lifted its stake in Lululemon Athletica by 1.9% in the third quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock worth $112,081,000 after acquiring an additional 5,403 shares during the period. HB Wealth Management LLC grew its holdings in Lululemon Athletica by 10.9% during the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock worth $871,000 after acquiring an additional 168 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Lululemon Athletica by 42.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after purchasing an additional 805 shares during the period. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LULU. Raymond James increased their price objective on shares of Lululemon Athletica from $495.00 to $520.00 and gave the company an “outperform” rating in a research note on Wednesday, January 10th. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and cut their price target for the company from $430.00 to $415.00 in a report on Friday, February 9th. Truist Financial reduced their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Piper Sandler dropped their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $539.00 target price (down from $596.00) on shares of Lululemon Athletica in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $476.57.

Insider Activity

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU opened at $355.15 on Friday. The stock has a 50-day moving average of $401.25 and a two-hundred day moving average of $437.35. The stock has a market cap of $44.75 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.25 and a beta of 1.30. Lululemon Athletica Inc. has a one year low of $326.93 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 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 firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company posted $4.40 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. Analysts predict that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal 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.