abrdn plc Sells 346,756 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

abrdn plc lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 53.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 303,369 shares of the apparel retailer’s stock after selling 346,756 shares during the period. abrdn plc’s holdings in Lululemon Athletica were worth $155,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LULU. Vanguard Group Inc. boosted its stake in Lululemon Athletica by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer’s stock valued at $2,824,150,000 after purchasing an additional 38,432 shares during the last quarter. State Street Corp boosted its stake in Lululemon Athletica by 0.7% during the 1st quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock valued at $959,144,000 after purchasing an additional 18,147 shares during the last quarter. Morgan Stanley boosted its stake in Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after purchasing an additional 437,069 shares during the last quarter. Schroder Investment Management Group boosted its stake in Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after purchasing an additional 310,347 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Lululemon Athletica by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 1,659,260 shares of the apparel retailer’s stock valued at $603,418,000 after purchasing an additional 51,572 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LULU. Oppenheimer reiterated an “outperform” rating and set a $445.00 target price (down from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Wedbush cut their target price on Lululemon Athletica from $548.00 to $492.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Stifel Nicolaus restated a “buy” rating and issued a $539.00 price target (down from $596.00) on shares of Lululemon Athletica in a research note on Friday, March 22nd. Truist Financial dropped their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Guggenheim dropped their price target on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $483.61.

Lululemon Athletica Stock Performance

NASDAQ:LULU traded up $4.96 during trading hours on Friday, reaching $352.47. The stock had a trading volume of 2,470,408 shares, compared to its average volume of 3,139,792. Lululemon Athletica Inc. has a 52 week low of $326.93 and a 52 week high of $516.39. The company has a 50 day moving average price of $420.09 and a two-hundred day moving average price of $438.41. The stock has a market capitalization of $44.41 billion, a PE ratio of 28.87, a PEG ratio of 1.23 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, Director Martha A. M. Morfitt acquired 700 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the purchase, the director now directly owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.