Multiple Reasons for the Surge of Lululemon Athletica (LULU) in Q4
Scout Investments, Inc, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Scout Mid Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market advance dominated by large-cap tech stocks broadened out, so mid-and small-cap companies outperformed their large-cap counterparts. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Scout Mid Cap Fund featured stocks like Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter 2023 investor letter. Headquartered in Vancouver, Canada, Lululemon Athletica Inc. (NASDAQ:LULU) designs and distributes athletic apparel, footwear, and accessories. On March 22, 2024, Lululemon Athletica Inc. (NASDAQ:LULU) stock closed at $403.19 per share. One-month return of Lululemon Athletica Inc. (NASDAQ:LULU) was -13.89%, and its shares gained 27.10% of their value over the last 52 weeks. Lululemon Athletica Inc. (NASDAQ:LULU) has a market capitalization of $50.805 billion.
Carillon Scout Mid Cap Fund stated the following regarding Lululemon Athletica Inc. (NASDAQ:LULU) in its fourth quarter 2023 investor letter:
"Lululemon Athletica Inc. (NASDAQ:LULU) rounded out the winners as demand for its “athleisure” clothing grew strongly during the holiday season thanks to new products, steady job growth in the United States, and continued expansion in China."
A store employee in an athletic apparel store restocking merchandise.
Lululemon Athletica Inc. (NASDAQ:LULU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Lululemon Athletica Inc. (NASDAQ:LULU) was held by 52 hedge fund portfolios, down from 61 in the previous quarter, according to our database.
We discussed Lululemon Athletica Inc. (NASDAQ:LULU) in another article and shared Artisan Mid Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
