Select Equity Group L.P. Invests $20.09 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

Select Equity Group L.P. purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the first quarter, HoldingsChannel reports. The firm purchased 65,495 shares of the apparel retailer’s stock, valued at approximately $20,088,000.

Other large investors have also modified their holdings of the company. Atticus Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 143.2% during the first quarter. Atticus Wealth Management LLC now owns 90 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 53 shares during the period. HighMark Wealth Management LLC lifted its holdings in Lululemon Athletica by 182.9% in the first quarter. HighMark Wealth Management LLC now owns 99 shares of the apparel retailer’s stock valued at $30,000 after buying an additional 64 shares during the period. Altshuler Shaham Ltd lifted its holdings in Lululemon Athletica by 410.0% in the first quarter. Altshuler Shaham Ltd now owns 102 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 82 shares during the period. Heritage Wealth Advisors lifted its holdings in Lululemon Athletica by 133.3% in the first quarter. Heritage Wealth Advisors now owns 112 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 64 shares during the period. Finally, Jacobi Capital Management LLC lifted its holdings in Lululemon Athletica by 77.4% in the first quarter. Jacobi Capital Management LLC now owns 110 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 48 shares during the period. Institutional investors own 80.41% of the company’s stock.

LULU stock traded up $2.26 during trading on Thursday, reaching $385.88. The stock had a trading volume of 5,091 shares, compared to its average volume of 922,552. Lululemon Athletica Inc. has a one year low of $269.28 and a one year high of $399.90. The stock has a 50 day moving average price of $345.74. The stock has a market cap of $50.22 billion, a P/E ratio of 71.17, a price-to-earnings-growth ratio of 2.96 and a beta of 1.36.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 2nd. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.25. Lululemon Athletica had a net margin of 14.17% and a return on equity of 31.50%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 88.1% compared to the same quarter last year. Equities research analysts predict that Lululemon Athletica Inc. will post 7.07 EPS for the current fiscal year.

LULU has been the topic of several recent analyst reports. BTIG Research boosted their target price on shares of Lululemon Athletica from $434.00 to $440.00 and gave the company a “buy” rating in a report on Friday, June 4th. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $441.00 price target for the company in a research note on Wednesday. Morgan Stanley lifted their price target on shares of Lululemon Athletica from $377.00 to $411.00 and gave the company an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $390.00 to $401.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Finally, Piper Sandler decreased their price target on shares of Lululemon Athletica from $465.00 to $445.00 and set an “overweight” rating for the company in a research note on Friday, June 4th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $398.93.

In related news, Director Martha A. M. Morfitt bought 4,800 shares of the company’s stock in a transaction on Tuesday, June 8th. The shares were purchased at an average cost of $330.00 per share, for a total transaction of $1,584,000.00. Following the completion of the purchase, the director now directly owns 90,154 shares in the company, valued at $29,750,820. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Celeste Burgoyne sold 14,362 shares of the business’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $366.95, for a total transaction of $5,270,135.90. Following the completion of the transaction, the insider now owns 9,477 shares in the company, valued at $3,477,585.15. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Lululemon Athletica Company Profile

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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