Kornitzer Capital Management Inc. KS Decreases Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Kornitzer Capital Management Inc. KS reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 32.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,511 shares of the apparel retailer’s stock after selling 10,172 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Lululemon Athletica were worth $10,998,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $1,503,000. Envestnet Asset Management Inc. raised its stake in Lululemon Athletica by 30.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after buying an additional 44,141 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Lululemon Athletica by 1.9% during the 3rd quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock valued at $112,081,000 after buying an additional 5,403 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 10.9% during the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after buying an additional 168 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Lululemon Athletica by 42.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,710 shares of the apparel retailer’s stock valued at $1,386,000 after buying an additional 805 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

NASDAQ:LULU traded up $4.96 during trading hours on Friday, reaching $352.47. The company’s stock had a trading volume of 2,470,408 shares, compared to its average volume of 3,139,792. The company has a market capitalization of $44.41 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30. Lululemon Athletica Inc. has a 12 month low of $326.93 and a 12 month high of $516.39. The stock has a 50 day moving average price of $420.09 and a two-hundred day moving average price of $438.41.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.40 earnings per share. As a group, analysts predict that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LULU. Jefferies Financial Group lowered their price target on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a report on Thursday, April 4th. Robert W. Baird lowered their price target on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a report on Friday. Barclays lowered their price target on Lululemon Athletica from $610.00 to $546.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Piper Sandler decreased their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Finally, Truist Financial decreased their target price on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $483.61.

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.