Herbst Group LLC trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 20.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,900 shares of the apparel retailer’s stock after selling 500 shares during the period. Herbst Group LLC’s holdings in Lululemon Athletica were worth $719,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of LULU. Edgewood Management LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at $824,128,000. D1 Capital Partners L.P. bought a new position in Lululemon Athletica in the 1st quarter valued at about $279,637,000. Renaissance Technologies LLC bought a new position in Lululemon Athletica in the 1st quarter valued at about $278,751,000. Alyeska Investment Group L.P. bought a new position in Lululemon Athletica in the 1st quarter valued at about $180,458,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Lululemon Athletica in the 1st quarter valued at approximately $146,557,000. 91.50% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on LULU shares. StockNews.com initiated coverage on shares of Lululemon Athletica in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Oppenheimer lifted their price objective on shares of Lululemon Athletica from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. HSBC initiated coverage on shares of Lululemon Athletica in a report on Monday. They issued a “buy” rating and a $500.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Lululemon Athletica from $425.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Finally, UBS Group upped their price objective on shares of Lululemon Athletica from $407.00 to $429.00 in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $440.89.
Insider Buying and Selling
In other news, insider Michelle Sun Choe sold 27,981 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the completion of the transaction, the insider now directly owns 3,892 shares of the company’s stock, valued at approximately $1,560,692. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.
Lululemon Athletica Trading Down 0.0 %
LULU traded down $0.05 during trading on Tuesday, hitting $382.76. The company’s stock had a trading volume of 129,902 shares, compared to its average volume of 1,619,927. The business’s fifty day simple moving average is $382.96 and its 200 day simple moving average is $364.98. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 48.46, a P/E/G ratio of 1.73 and a beta of 1.39. Lululemon Athletica Inc. has a twelve month low of $277.50 and a twelve month high of $406.94.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Lululemon Athletica had a return on equity of 44.47% and a net margin of 11.40%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 12.15 earnings per share for the current fiscal year.
Lululemon Athletica Company 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 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.
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