Byrne Asset Management LLC Cuts Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Byrne Asset Management LLC reduced its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,534 shares of the apparel retailer’s stock after selling 201 shares during the period. Byrne Asset Management LLC’s holdings in Lululemon Athletica were worth $717,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $32,000. Finally, Asset Planning Inc purchased a new stake in Lululemon Athletica during the 4th quarter worth approximately $33,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $239.11 on Friday. The firm has a market cap of $28.85 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $423.32. The firm’s 50-day simple moving average is $284.75 and its 200-day simple moving average is $335.60.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $2.54 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on LULU. JPMorgan Chase & Co. lowered their price target on shares of Lululemon Athletica from $389.00 to $303.00 and set an “overweight” rating for the company in a report on Friday, June 6th. Stifel Nicolaus reduced their price target on shares of Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, June 6th. UBS Group reduced their price target on shares of Lululemon Athletica from $330.00 to $290.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. TD Securities upped their price objective on shares of Lululemon Athletica from $370.00 to $373.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, CICC Research restated a “market perform” rating and set a $280.49 price objective on shares of Lululemon Athletica in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.26.

Lululemon Athletica Profile

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.