Hoey Investments Inc. Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Hoey Investments Inc. reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,344 shares of the apparel retailer’s stock after selling 280 shares during the quarter. Hoey Investments Inc.’s holdings in Lululemon Athletica were worth $514,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Investment Partners Asset Management Inc. purchased a new position in Lululemon Athletica during the fourth quarter worth about $275,000. Rockefeller Capital Management L.P. increased its position in Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after purchasing an additional 34,704 shares during the period. Lebenthal Global Advisors LLC raised its stake in shares of Lululemon Athletica by 138.1% during the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after buying an additional 1,565 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in shares of Lululemon Athletica by 495.1% in the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after buying an additional 3,540 shares during the period. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $17,775,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analysts Set New Price Targets

LULU has been the subject of several research analyst reports. Barclays cut their price objective on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating for the company in a research report on Friday. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. BMO Capital Markets decreased their price objective on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a report on Friday. UBS Group dropped their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a report on Friday. Finally, Needham & Company LLC decreased their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Trading Down 14.2 %

Lululemon Athletica stock opened at $293.06 on Monday. The stock has a fifty day moving average price of $364.63 and a 200 day moving average price of $340.22. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $423.32. The firm has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the firm posted $5.29 EPS. The company’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

About Lululemon Athletica

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.