Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Ossiam

Ossiam reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 75.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,526 shares of the apparel retailer’s stock after selling 50,996 shares during the period. Ossiam’s holdings in Lululemon Athletica were worth $6,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Simon Quick Advisors LLC increased its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after purchasing an additional 22 shares during the period. Pinnacle Financial Partners Inc increased its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after purchasing an additional 23 shares during the period. Moody National Bank Trust Division boosted its position in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Lululemon Athletica by 2.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after acquiring an additional 30 shares in the last quarter. Finally, Great Lakes Retirement Inc. boosted its position in shares of Lululemon Athletica by 1.1% during the 4th quarter. Great Lakes Retirement Inc. now owns 2,964 shares of the apparel retailer’s stock worth $1,515,000 after acquiring an additional 31 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LULU shares. The Goldman Sachs Group lowered their price objective on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Barclays reduced their price target on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. BTIG Research began coverage on Lululemon Athletica in a research report on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $357.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 13th. Finally, TD Securities cut their price target on Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $422.87.

Lululemon Athletica Stock Down 9.1 %

Shares of LULU traded down $24.74 during mid-day trading on Thursday, reaching $247.32. 9,362,975 shares of the company’s stock were exchanged, compared to its average volume of 2,087,646. Lululemon Athletica Inc. has a 52-week low of $245.59 and a 52-week high of $516.39. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.40 and a beta of 1.26. The company has a 50-day simple moving average of $301.81 and a two-hundred day simple moving average of $379.73.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 earnings per share. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.