Vanguard Group Inc. raised its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,057,420 shares of the apparel retailer’s stock after buying an additional 139,604 shares during the period. Vanguard Group Inc. owned 5.15% of Lululemon Athletica worth $521,261,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in LULU. Jennison Associates LLC boosted its position in Lululemon Athletica by 761.4% in the second quarter. Jennison Associates LLC now owns 6,234,712 shares of the apparel retailer’s stock valued at $460,496,000 after buying an additional 5,510,939 shares in the last quarter. Norges Bank purchased a new position in Lululemon Athletica during the fourth quarter valued at $47,695,000. 1832 Asset Management L.P. boosted its position in Lululemon Athletica by 296,140.0% in the first quarter. 1832 Asset Management L.P. now owns 740,600 shares of the apparel retailer’s stock valued at $84,504,000 after buying an additional 740,350 shares in the last quarter. Schroder Investment Management Group purchased a new position in Lululemon Athletica during the second quarter valued at $39,857,000. Finally, First Trust Advisors LP purchased a new position in Lululemon Athletica during the second quarter valued at $26,135,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.
Lululemon Athletica Inc. (NASDAQ:LULU) opened at 60.98 on Friday. Lululemon Athletica Inc. has a 1-year low of $43.14 and a 1-year high of $81.81. The firm’s 50-day moving average price is $71.25 and its 200-day moving average price is $69.43. The firm has a market capitalization of $8.36 billion, a PE ratio of 31.29 and a beta of 0.65.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The company earned $514.52 million during the quarter. During the same quarter in the previous year, the business posted $0.34 earnings per share. Lululemon Athletica’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts predict that Lululemon Athletica Inc. will post $2.12 EPS for the current fiscal year.
Several equities analysts have weighed in on LULU shares. Bank of America Corp. restated a “sell” rating on shares of Lululemon Athletica in a report on Tuesday, June 7th. Canaccord Genuity restated a “hold” rating and set a $70.00 price target on shares of Lululemon Athletica in a report on Monday, June 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $65.00 price objective (up from $60.00) on shares of Lululemon Athletica in a research note on Tuesday, June 7th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Lululemon Athletica in a research note on Tuesday, June 7th. Finally, Mizuho raised their price objective on Lululemon Athletica from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, June 8th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $71.86.
About Lululemon Athletica
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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