Pallas Capital Advisors LLC Has $728,000 Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Pallas Capital Advisors LLC grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 251.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,573 shares of the apparel retailer’s stock after acquiring an additional 1,840 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lululemon Athletica were worth $728,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Lululemon Athletica in the 4th quarter valued at approximately $429,000. Golden State Wealth Management LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $36,000. Kingsview Wealth Management LLC lifted its position in shares of Lululemon Athletica by 5.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,645 shares of the apparel retailer’s stock valued at $629,000 after acquiring an additional 88 shares during the period. Empowered Funds LLC lifted its position in shares of Lululemon Athletica by 22.3% during the 4th quarter. Empowered Funds LLC now owns 2,123 shares of the apparel retailer’s stock valued at $812,000 after acquiring an additional 387 shares during the period. Finally, Empirical Finance LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth $246,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 2.4%

Shares of NASDAQ:LULU opened at $252.28 on Thursday. The stock has a market capitalization of $30.43 billion, a PE ratio of 18.22, a P/E/G ratio of 2.22 and a beta of 1.26. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a fifty day moving average price of $285.28 and a 200 day moving average price of $336.70.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.54 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LULU. The Goldman Sachs Group decreased their price target on Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. BTIG Research decreased their price target on Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating for the company in a research report on Friday, June 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Morgan Stanley reissued an “equal weight” rating and set a $280.00 price objective (down previously from $346.00) on shares of Lululemon Athletica in a report on Monday. Finally, Truist Financial reduced their price target on Lululemon Athletica from $297.00 to $290.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $340.26.

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.