Oppenheimer Asset Management Inc. trimmed its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 3,331 shares of the apparel retailer’s stock after selling 77 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lululemon Athletica were worth $641,000 as of its most recent SEC filing.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LULU. Amundi Pioneer Asset Management Inc. lifted its position in shares of Lululemon Athletica by 6.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 72,706 shares of the apparel retailer’s stock worth $11,914,000 after purchasing an additional 4,589 shares in the last quarter. DNB Asset Management AS acquired a new position in Lululemon Athletica in the second quarter worth approximately $1,914,000. Carroll Financial Associates Inc. acquired a new position in Lululemon Athletica in the second quarter worth approximately $123,000. Cordasco Financial Network acquired a new position in Lululemon Athletica in the second quarter worth approximately $36,000. Finally, Scout Investments Inc. increased its holdings in Lululemon Athletica by 53.3% in the second quarter. Scout Investments Inc. now owns 149,471 shares of the apparel retailer’s stock worth $26,936,000 after buying an additional 51,975 shares during the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on LULU. B. Riley increased their price objective on Lululemon Athletica from $176.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday. Credit Suisse Group restated an “outperform” rating and issued a $235.00 price objective (up previously from $198.00) on shares of Lululemon Athletica in a report on Friday, September 6th. KeyCorp restated a “hold” rating on shares of Lululemon Athletica in a report on Friday, September 6th. DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Lululemon Athletica in a report on Friday, September 6th. Finally, Citigroup downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and set a $205.00 price objective on the stock. in a report on Monday, October 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $211.79.
In other Lululemon Athletica news, Director Dennis J. Wilson sold 110,629 shares of Lululemon Athletica stock in a transaction on Monday, August 26th. The stock was sold at an average price of $182.87, for a total transaction of $20,230,725.23. Following the completion of the transaction, the director now directly owns 3,852 shares of the company’s stock, valued at $704,415.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis J. Wilson sold 99,133 shares of Lululemon Athletica stock in a transaction on Friday, September 6th. The shares were sold at an average price of $201.79, for a total value of $20,004,048.07. Following the transaction, the director now directly owns 3,852 shares of the company’s stock, valued at $777,295.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,548 shares of company stock valued at $79,395,186. Company insiders own 0.34% of the company’s stock.
Shares of LULU stock opened at $204.13 on Friday. The company has a market cap of $25.32 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Lululemon Athletica inc. has a 12 month low of $110.71 and a 12 month high of $209.02. The business’s 50 day moving average is $198.53 and its two-hundred day moving average is $185.33. The company has a quick ratio of 1.52, a current ratio of 2.41 and a debt-to-equity ratio of 0.38.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 5th. The apparel retailer reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. The company had revenue of $883.35 million during the quarter, compared to analysts’ expectations of $845.03 million. Lululemon Athletica had a return on equity of 39.54% and a net margin of 14.93%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share. As a group, equities analysts expect that Lululemon Athletica inc. will post 4.74 EPS for the current fiscal year.
Lululemon Athletica Profile
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
Further Reading: Why does a company issue an IPO?
Want to see what other hedge funds are holding LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lululemon Athletica inc. (NASDAQ:LULU).