Goldman Sachs Grows Lululemon Stake 77.3% to 979,054 Shares — Cibc
cibc: Goldman Sachs Group Inc. lifted its lululemon athletica stake by 77.3% in the fourth quarter, ending with 979,054 shares after adding 426,860 shares. The position was worth $203,457,000 at quarter end, giving the firm about 0.83% of the retailer.
979,054 shares is a large institutional bet on a stock that still trades under close watch. For holders of lululemon, the filing shows one of the industry’s biggest names added exposure even as the broader analyst tone stayed centered on Hold.
Goldman Sachs Adds 426,860 Shares
426,860 shares were added during the period, which took Goldman Sachs from a smaller position to one worth more than $203 million. That lift matters because the firm did not nibble at the margin; it expanded its stake enough to place it among the company’s major outside owners.
85.20% of lululemon stock is owned by hedge funds and other institutional investors, so Goldman Sachs was buying into a register already dominated by large professional holders. That is the same backdrop in which several other hedge funds also recently modified their positions.
Andre Maestrini Buys 3,275 Shares
3,275 shares were bought by Andre Maestrini on Wednesday, April 1, at an average price of $151.02 per share. The $494,590.50 purchase left him with 34,551 shares directly, valued at $5,217,892.02 after the trade.
10.47% was the increase in Maestrini’s ownership after that purchase. For a chief executive, the move put more of his personal capital alongside the stock at the same time that institutional ownership remained elevated.
Analysts Trim Lululemon Targets
$145.00 was Sanford C. Bernstein’s new price objective on Wednesday, down from $170.00. Robert W. Baird followed on Friday with a cut to $140.00 from $170.00, while BTIG Research lowered the shares from buy to neutral and Freedom Capital moved from strong sell to hold.
One Strong Buy rating, one Buy rating, twenty-nine Hold ratings, and three Sell ratings left the consensus leaning Hold, with a $165.13 target. That gap between a heavy institutional bid and a mostly neutral analyst line leaves traders with two clear reference points: ownership is rising, but targets are moving lower.
