Peregrine Investment Management Inc. Buys Shares of 12,600 Lululemon Athletica Inc. (NASDAQ:LULU)

Peregrine Investment Management Inc. purchased a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,600 shares of the apparel retailer’s stock, valued at approximately $4,818,000. Lululemon Athletica accounts for approximately 2.8% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LULU. JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares during the period. Sound Income Strategies LLC grew its position in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 65 shares during the period. Asset Planning Inc purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth $33,000. Golden State Wealth Management LLC bought a new position in Lululemon Athletica in the 4th quarter worth $36,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in Lululemon Athletica during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 6.2 %

LULU opened at $366.68 on Friday. The business has a fifty day moving average of $391.37 and a 200 day moving average of $320.44. The stock has a market cap of $44.65 billion, a P/E ratio of 26.48, a PEG ratio of 2.51 and a beta of 1.19. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly 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. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 EPS. Equities analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LULU shares. JPMorgan Chase & Co. raised their price objective on Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on shares of Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Oppenheimer lifted their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Truist Financial increased their price target on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $399.14.

Insider Activity at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated 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 directly owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.