Ridgewood Investments LLC Invests $36,000 in Lululemon Athletica Inc. (NASDAQ:LULU)

Posted by on Jul 12th, 2023

Ridgewood Investments LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 100 shares of the apparel retailer’s stock, valued at approximately $36,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Lululemon Athletica by 0.7% in the third quarter. State Street Corp now owns 2,641,033 shares of the apparel retailer’s stock worth $738,327,000 after acquiring an additional 17,419 shares during the period. Edgewood Management LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $824,128,000. Geode Capital Management LLC lifted its position in shares of Lululemon Athletica by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 1,607,688 shares of the apparel retailer’s stock valued at $514,463,000 after acquiring an additional 48,088 shares in the last quarter. Winslow Capital Management LLC lifted its position in shares of Lululemon Athletica by 21.0% in the fourth quarter. Winslow Capital Management LLC now owns 1,319,850 shares of the apparel retailer’s stock valued at $422,854,000 after acquiring an additional 228,913 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Lululemon Athletica by 11.2% during the fourth quarter. Morgan Stanley now owns 1,273,177 shares of the apparel retailer’s stock worth $407,901,000 after purchasing an additional 128,563 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

LULU stock opened at $379.48 on Wednesday. Lululemon Athletica Inc. has a 1 year low of $271.05 and a 1 year high of $389.06. The firm has a market capitalization of $48.22 billion, a P/E ratio of 50.73, a P/E/G ratio of 1.53 and a beta of 1.42. The business’s 50-day moving average is $368.16 and its two-hundred day moving average is $341.86.

Lululemon Athletica (NASDAQ:LULU – Get Free Report) last issued its quarterly earnings results on Thursday, June 1st. The apparel retailer reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.31. Lululemon Athletica had a net margin of 11.24% and a return on equity of 44.94%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts expect that Lululemon Athletica Inc. will post 11.92 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of Lululemon Athletica from $410.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 20th. Barclays upped their price objective on shares of Lululemon Athletica from $413.00 to $430.00 in a research note on Monday, June 5th. StockNews.com assumed coverage on shares of Lululemon Athletica in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. KGI Securities upgraded Lululemon Athletica from a “neutral” rating to an “outperform” rating in a research report on Wednesday, March 29th. Finally, BMO Capital Markets lifted their price objective on Lululemon Athletica from $340.00 to $355.00 in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $421.62.

Lululemon Athletica Profile

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

See Also

Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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