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

Wedbush Securities Inc. trimmed its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,781 shares of the apparel retailer’s stock after selling 647 shares during the quarter. Wedbush Securities Inc.’s holdings in Lululemon Athletica were worth $2,976,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mawer Investment Management Ltd. acquired a new stake in Lululemon Athletica during the 4th quarter worth approximately $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth $370,062,000. Alliancebernstein L.P. increased its position in shares of Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after acquiring an additional 571,657 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Lululemon Athletica by 31.0% during the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after acquiring an additional 421,890 shares in the last quarter. Finally, Norges Bank purchased a new position in Lululemon Athletica in the fourth quarter valued at about $142,235,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Cfra Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Argus downgraded shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays reduced their target price on shares of Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Bank of America lowered their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, UBS Group cut their price objective on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.31.

Lululemon Athletica Stock Up 3.1 %

LULU stock opened at $263.70 on Friday. The stock has a market cap of $32.11 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The firm’s 50-day simple moving average is $353.59 and its 200 day simple moving average is $339.47. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $5.29 earnings per share. Equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal 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.