Shulman DeMeo Asset Management LLC Invests $222,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Shulman DeMeo Asset Management LLC purchased a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 580 shares of the apparel retailer’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paladin Wealth LLC bought a new position in Lululemon Athletica during the 3rd quarter valued at about $29,000. JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in Lululemon Athletica by 110.1% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after purchasing an additional 76 shares during the last quarter. Asset Dedication LLC boosted its stake in Lululemon Athletica by 402.1% in the third quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after purchasing an additional 189 shares in the last quarter. Finally, Avondale Wealth Management acquired a new stake in shares of Lululemon Athletica in the third quarter valued at $68,000. 85.20% of the stock is owned by institutional investors.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This trade represents a 66.68 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LULU. Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. UBS Group lifted their target price on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup lifted their price objective on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial raised their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler increased their price target on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $390.33.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $370.99 on Friday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $491.30. The stock has a market cap of $45.18 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.71 and a beta of 1.18. The firm’s 50-day moving average is $360.19 and its 200-day moving average is $303.57.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the company posted $2.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Lululemon Athletica Inc. will post 14.18 EPS for the current fiscal year.

Lululemon Athletica 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.