Kornitzer Capital Management Inc. KS lifted its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 52.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,131 shares of the apparel retailer's stock after buying an additional 20,408 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Lululemon Athletica were worth $16,045,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Paladin Wealth LLC acquired a new position in shares of Lululemon Athletica in the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of Lululemon Athletica during the second quarter worth $33,000. Finally, Dnca Finance acquired a new stake in shares of Lululemon Athletica during the second quarter worth $34,000. Hedge funds and other institutional investors own 85.20% of the company's stock.
Shares of NASDAQ LULU traded up $5.66 on Thursday, reaching $318.80. 222,636 shares of the company traded hands, compared to its average volume of 2,101,585. The stock has a market capitalization of $39.14 billion, a PE ratio of 24.20, a P/E/G ratio of 2.31 and a beta of 1.24. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a 50 day moving average of $277.50 and a 200 day moving average of $291.99.
Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 earnings per share. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.
In related news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company's stock, valued at $1,670,918.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company's stock.
A number of equities analysts have commented on LULU shares. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an "equal weight" rating for the company in a research report on Friday, August 23rd. Robert W. Baird increased their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the company a "neutral" rating in a report on Friday, August 30th. Telsey Advisory Group cut their target price on Lululemon Athletica from $470.00 to $360.00 and set an "outperform" rating for the company in a research note on Monday, August 26th. Finally, Truist Financial lifted their price target on Lululemon Athletica from $310.00 to $360.00 and gave the company a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.13.
Get Our Latest Report on LULU
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Lululemon Athletica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lululemon Athletica wasn't on the list.
While Lululemon Athletica currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.