Covington Capital Management Has $68,000 Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Covington Capital Management lifted its holdings in Lululemon Athletica Inc. (NASDAQ:LULUGet Rating) by 27.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249 shares of the apparel retailer’s stock after purchasing an additional 53 shares during the quarter. Covington Capital Management’s holdings in Lululemon Athletica were worth $68,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in shares of Lululemon Athletica by 10.7% in the first quarter. Lindbrook Capital LLC now owns 268 shares of the apparel retailer’s stock valued at $98,000 after acquiring an additional 26 shares in the last quarter. Clearstead Advisors LLC lifted its position in Lululemon Athletica by 3.7% during the first quarter. Clearstead Advisors LLC now owns 838 shares of the apparel retailer’s stock worth $306,000 after purchasing an additional 30 shares during the period. Avondale Wealth Management lifted its position in Lululemon Athletica by 4.2% during the first quarter. Avondale Wealth Management now owns 891 shares of the apparel retailer’s stock worth $325,000 after purchasing an additional 36 shares during the period. Boenning & Scattergood Inc. lifted its position in Lululemon Athletica by 3.3% during the first quarter. Boenning & Scattergood Inc. now owns 1,130 shares of the apparel retailer’s stock worth $413,000 after purchasing an additional 36 shares during the period. Finally, KCM Investment Advisors LLC lifted its position in Lululemon Athletica by 0.5% during the fourth quarter. KCM Investment Advisors LLC now owns 8,202 shares of the apparel retailer’s stock worth $3,211,000 after purchasing an additional 40 shares during the period. 81.11% of the stock is owned by institutional investors.

Lululemon Athletica Trading Up 1.2 %

NASDAQ LULU opened at $337.08 on Tuesday. Lululemon Athletica Inc. has a 12 month low of $251.51 and a 12 month high of $485.83. The stock has a market cap of $42.98 billion, a P/E ratio of 39.02, a P/E/G ratio of 1.69 and a beta of 1.29. The stock’s fifty day moving average price is $313.53 and its 200-day moving average price is $315.61.

Lululemon Athletica (NASDAQ:LULUGet Rating) last released its earnings results on Thursday, September 1st. The apparel retailer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.34. Lululemon Athletica had a return on equity of 40.95% and a net margin of 15.60%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, analysts forecast that Lululemon Athletica Inc. will post 9.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kathryn Henry sold 189 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $351.80, for a total transaction of $66,490.20. Following the transaction, the director now directly owns 4,102 shares of the company’s stock, valued at $1,443,083.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $315.00 to $343.00 and gave the stock an “overweight” rating in a research report on Friday, September 2nd. Credit Suisse Group dropped their target price on shares of Lululemon Athletica from $450.00 to $410.00 and set an “outperform” rating for the company in a report on Friday, June 3rd. Sanford C. Bernstein raised shares of Lululemon Athletica to a “hold” rating and set a $300.00 target price for the company in a report on Friday, June 24th. Jefferies Financial Group cut shares of Lululemon Athletica from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $375.00 to $200.00 in a report on Monday, July 11th. Finally, The Goldman Sachs Group increased their target price on shares of Lululemon Athletica from $365.00 to $383.00 in a report on Friday, September 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $403.69.

About Lululemon Athletica

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lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories 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 and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

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

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