Victory Capital Management Inc. raised its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 18,669.7% during the third quarter, Holdings Channel reports. The firm owned 288,302 shares of the apparel retailer’s stock after buying an additional 286,766 shares during the period. Victory Capital Management Inc.’s holdings in Lululemon Athletica were worth $17,580,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of LULU. Lone Pine Capital LLC boosted its position in Lululemon Athletica by 42.9% in the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock worth $547,325,000 after buying an additional 2,224,220 shares in the last quarter. Schroder Investment Management Group bought a new position in Lululemon Athletica during the second quarter worth approximately $39,857,000. First Trust Advisors LP bought a new position in Lululemon Athletica during the second quarter worth approximately $26,135,000. RS Investment Management Co. LLC bought a new position in Lululemon Athletica during the second quarter worth approximately $22,853,000. Finally, 1832 Asset Management L.P. boosted its position in Lululemon Athletica by 39.1% in the second quarter. 1832 Asset Management L.P. now owns 1,029,900 shares of the apparel retailer’s stock worth $125,596,000 after buying an additional 289,300 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors.
Shares of Lululemon Athletica Inc. (NASDAQ:LULU) opened at 69.30 on Friday. The company has a 50-day moving average of $57.69 and a 200-day moving average of $67.29. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 33.46 and a beta of 0.42. Lululemon Athletica Inc. has a 1-year low of $45.87 and a 1-year high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, December 7th. The apparel retailer reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Lululemon Athletica had a return on equity of 24.32% and a net margin of 12.60%. The business earned $544.40 million during the quarter, compared to the consensus estimate of $540.81 million. During the same period last year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities research analysts expect that Lululemon Athletica Inc. will post $2.15 EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on LULU shares. Telsey Advisory Group upped their price objective on shares of Lululemon Athletica from $82.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Zacks Investment Research cut shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $90.00 price target on shares of Lululemon Athletica in a research report on Friday, August 26th. Credit Suisse Group AG reissued an “outperform” rating and set a $76.00 price target on shares of Lululemon Athletica in a research report on Monday, August 29th. Finally, MKM Partners restated a “buy” rating and issued a $90.00 price objective (up from $82.00) on shares of Lululemon Athletica in a report on Tuesday, August 30th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Lululemon Athletica currently has a consensus rating of “Hold” and a consensus target price of $69.70.
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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