Beacon Capital Management LLC Decreases Stock Holdings in lululemon athletica inc. (NASDAQ:LULU)

Beacon Capital Management LLC reduced its stake in lululemon athletica inc. (NASDAQ:LULU) by 12.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327 shares of the apparel retailer’s stock after selling 45 shares during the quarter. Beacon Capital Management LLC’s holdings in lululemon athletica were worth $93,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LULU. Brighton Jones LLC purchased a new position in shares of lululemon athletica in the 4th quarter valued at approximately $429,000. Empowered Funds LLC raised its position in shares of lululemon athletica by 22.3% in the 4th quarter. Empowered Funds LLC now owns 2,123 shares of the apparel retailer’s stock valued at $812,000 after purchasing an additional 387 shares during the last quarter. Principal Securities Inc. raised its position in shares of lululemon athletica by 26.4% in the 4th quarter. Principal Securities Inc. now owns 3,854 shares of the apparel retailer’s stock valued at $1,474,000 after purchasing an additional 806 shares during the last quarter. Allworth Financial LP raised its position in shares of lululemon athletica by 113.4% in the 4th quarter. Allworth Financial LP now owns 715 shares of the apparel retailer’s stock valued at $274,000 after purchasing an additional 380 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of lululemon athletica by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 254,217 shares of the apparel retailer’s stock valued at $97,215,000 after purchasing an additional 4,042 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LULU shares. Piper Sandler increased their price objective on shares of lululemon athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. CICC Research reiterated a “market perform” rating and issued a $280.49 price target on shares of lululemon athletica in a report on Monday, June 9th. Barclays cut their price target on shares of lululemon athletica from $276.00 to $270.00 and set an “equal weight” rating on the stock in a report on Monday, June 9th. Robert W. Baird cut their price target on shares of lululemon athletica from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, June 6th. Finally, Truist Financial cut their price target on shares of lululemon athletica from $297.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.26.

lululemon athletica Stock Performance

lululemon athletica stock opened at $235.20 on Wednesday. The company’s fifty day moving average price is $283.86 and its 200 day moving average price is $334.58. lululemon athletica inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The stock has a market capitalization of $28.19 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.22 and a beta of 1.26.

lululemon athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that lululemon athletica inc. will post 14.36 EPS for the current 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.